https://www.marketwatch.com/story/trumps-tariffs-against-china-are-hurting-us-tech-companies-instead-2018-10-11
4 replies (most recent on top)
Those who criticize the tariff positioning, carried out by president Trump, either do not understand what is in America’s long term national interest, or they do not care. Short term effects of the tariff negotiating tactics are nothing compared to the long term benefits. America cannot lose its industries to the Chinese, or to any other country. We cannot be turned into a paper money printing house (akin to oil exporting countries), where we would find ourselves in a few decades without industry, or industrial talent. We should all rather pay more to preserve our national industrial power, full employment, and high wages for everyone, than to buy cheap things which would, in the long run devalue the dollar, destroy our culture, and rob America of its national integrity and independence.
Tariffs lead to recession, recession leads to layoffs. DJT is throwing the US economy to the garbage can.
Trump's tariff war is hurting more than tech companies, it's hurting America. Even an idi0t should understand the way he's going about them is NOT good for the US but apparently not.
From today's MSN news (yes, it's a month old fact they are publishing today):
Last month, Ford CEO Jim Hackett said President Trump’s metals tariffs have cost the company $1 billion in profit. According to Fortune, the second biggest American automaker officially announced “massive” layoffs.
Stock in Ford Motor Co. is down 29 percent this year, with Hackett working on a $25.5 billion restructuring of the company to reduce costs while staying competitive. When the CEO mentioned last month that “there will be even more damage” if the Trump administration’s tariffs were to continue. "The metals tariffs took about $1 billion in profit from us—and the irony is we source most of that in the U.S. today anyways"
Heaven help us all. (and I'm not even religious)
So much for the stock market rebound. Recession is at hand.
https://www.marketwatch.com/story/the-dows-powerful-opening-friday-rally-is-fizzling--fast-2018-10-12