As Trump's tariffs bite, small US manufacturers begin to tap the brakes
Encouraged by a booming demand for construction equipment, Mike Haberman was planning in early February to hire at least 30 more workers for the manufacturing facility of his Gradall Industries in Ohio.
(Updated: )
Ricky Lim ·
But the tariffs, which came into effect on March 23, have driven up raw material costs and caused supply delays, rendering the manufacturers' "Made in the USA" products uncompetitive against their foreign rivals, according to these manufacturing company executives.
The Institute for Supply Management (ISM) survey on Tuesday showed how widespread that sentiment is: manufacturers slowed down hiring for a second straight month in April amid complaints that the tariffs have brought business planning to a standstill.
Take Florida Marine Tanks, which makes fuel, water and holding tanks for yachts. Company President Orestes Monterrey said aluminum accounts for 70 percent of the company's cost of production, which has risen 26 percent since December.
When the Henderson, North Carolina-based company tried to pass along rising aluminum costs, customers slowed down orders.
--
Now Trump and his economic team - tariff and trade war --- backfired on US businessess and hit US own Economy.
That why Trump and his economic team - is a real fool -- who don't understand the fundamental and principle of Economics, trade ---- and try to fool around with it.
Trump and his economic team is not learning the lesson of 1930s Deep Depression - and is now starting to pay the price.
The Institute for Supply Management (ISM) survey on Tuesday showed how widespread that sentiment is: manufacturers slowed down hiring for a second straight month in April amid complaints that the tariffs have brought business planning to a standstill.
Take Florida Marine Tanks, which makes fuel, water and holding tanks for yachts. Company President Orestes Monterrey said aluminum accounts for 70 percent of the company's cost of production, which has risen 26 percent since December.
When the Henderson, North Carolina-based company tried to pass along rising aluminum costs, customers slowed down orders.
--
Now Trump and his economic team - tariff and trade war --- backfired on US businessess and hit US own Economy.
That why Trump and his economic team - is a real fool -- who don't understand the fundamental and principle of Economics, trade ---- and try to fool around with it.
Trump and his economic team is not learning the lesson of 1930s Deep Depression - and is now starting to pay the price.
Like · Reply · 1m
Ricky Lim ·
Posted on:- 06 Apr 2018 07:03AM (Updated: 06 Apr 2018 07:15AM)
Ricky Lim ·
Singapore
Ricky Lim ·
Singapore
Trump is entering deeper and deeper into a trade war, and further he is getting deeper and deeper into big trouble that will cause US Economy to plummet.
(1) Trump announce a mammoth US$1.5 trillion government spendings.
But US is already inheriting a total US$21.5 trillion public debt.
US will face a big burden to finance the debt interest they have to pay plus the huge debt they will have to repay.
(2) Trump levy a tariff on aluminimum and steel. Then Trump announce a $50 billion trade war with China. Just heard that Trump is going to announce another $100 billion tariff on China for retaliating.
Now Trump by starting a trade war - will means US trade will be taken a big hit.
Trade income will fall, personal income will fall, US trade business will take a hit especially agricultural sector - and more people will face job losses and US conumers will pay a much higher prices in many products --- and US Economy will take a great hit.
With Trump facing a large budget deficit, he will not be able to get income to finance the $1.5 trillion spendings - unless he pay a huge interest due to the big risk that borrowers have to bear.
In addition, with Trump fight on global trade - more Countries will move away from trading with US - and Trump will start losing his trade income --- and this will make Trump government coffer all the more worst.
Trump is triggering a financial crisis in US - after he trigger global trade crisis.
Like · Reply · 1m
Ricky Lim ·
Singapore
Trump by escalating, intensifying and making the trade war big - will means accelerating and covering a big US consumer groups on the impact of trade war.
If Trump fail in the trade war, he will fall very quickly and the backlash on Trump will be ferocious.
Like · Reply · 1m
Ricky Lim ·
Singapore
Posted on :-
05 Apr 2018 09:55PM (Updated: 05 Apr 2018 10:05PM)
Ricky Lim ·
Singapore
And Trump wild firings --- are hurting US firms in China - 37% of them.
HURTING US FIRMS
US firms are also involved in production chains - 37 per cent of US imports from China are intermediate products used by American firms to make themselves more competitive.
Putting tariffs on intermediate products is shooting oneself in the foot. The list of targeted products posted by the United States includes some intermediates, such as aircraft propellers.
Many of the targeted products are consumer goods such as televisions and dishwashers. When a large country such as the United States imposes tariffs, the pain is shared between consumers who pay higher prices and producing firms abroad who have to absorb lower profit margins.
---
See whether US business and consumers will get back at Trump - for destroying their business, their jobs, and hurting their pockets having to buy US goods at much higher prices.
Like · Reply · 1m
Ricky Lim ·
Singapore
37% are US companies in China exporting back to US.
You think China will lose more or US themselves backfire and will lose more?
You think trade is so simple?
Trump attempting to mess up the market and the trade - did not know that he actually backfire alot on his US companies that setup companies all over the world - and it backfire on them.
Trade are so tightly knitted that any wild attempt to balance trade by brute force - bring about unintended consequences - and most analyst compute that US will stand to lose more in this trade war - that Trump so foolishly trigger.
Trump try to play god - but it will backfire on him.
Like · Reply · 1m · Edited
Ricky Lim ·
Singapore
Trump fail to understand Economics --- of what is "market mechanism".
And market mechanism cannot be intervened by brute forces - it will cause market inefficiency, price inefficiency and it distort allocation of market resources.
Trump is trying to play State intervention - which is the Communism of Planned Economy - where the whole World is moving out.
By doing so, Trump will shoot himself badly --- and cause alot of harm to its US businessess and consumers --- with collateral damages to the World.
BTW, did Trump even attend any "Basic Economic" classes?
Like · Reply · 1m
Ricky Lim ·
Singapore
Eg. Trump try to force other Countries to buy from US where its prices is higher than other Countries ---- do you think they will be so cuckoo cuckoo to buy from Trump?
Of course people will source from other suppliers that offer better prices with equally good quality.
You think Trump by pointing the gun at other Countries must buy from him?
Of course people will get turn off - and buy from other Countries rather than from anything that do with Trump - who give the image of a BIG BULLY.
Ricky Lim ·
Singapore
Ricky Lim ·
Singapore
Trump is entering deeper and deeper into a trade war, and further he is getting deeper and deeper into big trouble that will cause US Economy to plummet.
(1) Trump announce a mammoth US$1.5 trillion government spendings.
But US is already inheriting a total US$21.5 trillion public debt.
US will face a big burden to finance the debt interest they have to pay plus the huge debt they will have to repay.
(2) Trump levy a tariff on aluminimum and steel. Then Trump announce a $50 billion trade war with China. Just heard that Trump is going to announce another $100 billion tariff on China for retaliating.
Now Trump by starting a trade war - will means US trade will be taken a big hit.
Trade income will fall, personal income will fall, US trade business will take a hit especially agricultural sector - and more people will face job losses and US conumers will pay a much higher prices in many products --- and US Economy will take a great hit.
With Trump facing a large budget deficit, he will not be able to get income to finance the $1.5 trillion spendings - unless he pay a huge interest due to the big risk that borrowers have to bear.
In addition, with Trump fight on global trade - more Countries will move away from trading with US - and Trump will start losing his trade income --- and this will make Trump government coffer all the more worst.
Trump is triggering a financial crisis in US - after he trigger global trade crisis.
Like · Reply · 1m
Ricky Lim ·
Singapore
Trump by escalating, intensifying and making the trade war big - will means accelerating and covering a big US consumer groups on the impact of trade war.
If Trump fail in the trade war, he will fall very quickly and the backlash on Trump will be ferocious.
Like · Reply · 1m
Ricky Lim ·
Singapore
Posted on :-
05 Apr 2018 09:55PM (Updated: 05 Apr 2018 10:05PM)
Ricky Lim ·
Singapore
And Trump wild firings --- are hurting US firms in China - 37% of them.
HURTING US FIRMS
US firms are also involved in production chains - 37 per cent of US imports from China are intermediate products used by American firms to make themselves more competitive.
Putting tariffs on intermediate products is shooting oneself in the foot. The list of targeted products posted by the United States includes some intermediates, such as aircraft propellers.
Many of the targeted products are consumer goods such as televisions and dishwashers. When a large country such as the United States imposes tariffs, the pain is shared between consumers who pay higher prices and producing firms abroad who have to absorb lower profit margins.
---
See whether US business and consumers will get back at Trump - for destroying their business, their jobs, and hurting their pockets having to buy US goods at much higher prices.
Like · Reply · 1m
Ricky Lim ·
Singapore
37% are US companies in China exporting back to US.
You think China will lose more or US themselves backfire and will lose more?
You think trade is so simple?
Trump attempting to mess up the market and the trade - did not know that he actually backfire alot on his US companies that setup companies all over the world - and it backfire on them.
Trade are so tightly knitted that any wild attempt to balance trade by brute force - bring about unintended consequences - and most analyst compute that US will stand to lose more in this trade war - that Trump so foolishly trigger.
Trump try to play god - but it will backfire on him.
Like · Reply · 1m · Edited
Ricky Lim ·
Singapore
Trump fail to understand Economics --- of what is "market mechanism".
And market mechanism cannot be intervened by brute forces - it will cause market inefficiency, price inefficiency and it distort allocation of market resources.
Trump is trying to play State intervention - which is the Communism of Planned Economy - where the whole World is moving out.
By doing so, Trump will shoot himself badly --- and cause alot of harm to its US businessess and consumers --- with collateral damages to the World.
BTW, did Trump even attend any "Basic Economic" classes?
Like · Reply · 1m
Ricky Lim ·
Singapore
Eg. Trump try to force other Countries to buy from US where its prices is higher than other Countries ---- do you think they will be so cuckoo cuckoo to buy from Trump?
Of course people will source from other suppliers that offer better prices with equally good quality.
You think Trump by pointing the gun at other Countries must buy from him?
Of course people will get turn off - and buy from other Countries rather than from anything that do with Trump - who give the image of a BIG BULLY.
Like · Reply · 1m
Ricky Lim ·
Ricky Lim ·
Singapore
But pressure is mounting on Trump as metal prices begin to rise - something Commerce Secretary Wilbur Ross predicted would be painless for most businesses and consumers.
---
Timothy Fiore, who oversees a monthly survey of the US manufacturing companies for the Institute of Supply Management, said Trump's new tariffs were driving up supply costs for manufacturers which use steel and aluminium.
Suppliers began raising their prices within 24 hours after Trump announced his intention to impose the tariffs - with the price now up a sharp 19 per cent at US$860 a tonne, Fiore said.
--
This prove that Trump is wrong.
His most trusted aide Wilbur Ross is wrong.
His whole economic aide team is wrong.
The tariff he and the whole team impose on other Countries are hurting US businesses that require steel to make their products - such as car producers, fridge producers, ship producers, plane producers, smartphone producers etc.
Now US goods have suddenly become uncompetitive in the World Market.
And the World consumers will stop buying US goods.
And American consumers will suddenly pay a much higher prices compare to the World to get their goods.
Trump and his economic team --- has done a big sabotage to US businesses and consumers - and those sectors that other Countries retaliate.
US businesses will start to face trouble due to falling demand, jobs will be lost and US Economy will start to falter.
Like · Reply · 1m
Singapore
But pressure is mounting on Trump as metal prices begin to rise - something Commerce Secretary Wilbur Ross predicted would be painless for most businesses and consumers.
---
Timothy Fiore, who oversees a monthly survey of the US manufacturing companies for the Institute of Supply Management, said Trump's new tariffs were driving up supply costs for manufacturers which use steel and aluminium.
Suppliers began raising their prices within 24 hours after Trump announced his intention to impose the tariffs - with the price now up a sharp 19 per cent at US$860 a tonne, Fiore said.
--
This prove that Trump is wrong.
His most trusted aide Wilbur Ross is wrong.
His whole economic aide team is wrong.
The tariff he and the whole team impose on other Countries are hurting US businesses that require steel to make their products - such as car producers, fridge producers, ship producers, plane producers, smartphone producers etc.
Now US goods have suddenly become uncompetitive in the World Market.
And the World consumers will stop buying US goods.
And American consumers will suddenly pay a much higher prices compare to the World to get their goods.
Trump and his economic team --- has done a big sabotage to US businesses and consumers - and those sectors that other Countries retaliate.
US businesses will start to face trouble due to falling demand, jobs will be lost and US Economy will start to falter.
Like · Reply · 1m
No comments:
Post a Comment