Trump Tariffs and job losses

1) BMW will would move production for some of its SUVs out of the U.S. as a result of new tariffs placed on the vehicles, according to The Post and Courier in South Carolina.

BMW is the largest U.S. auto exporter and employs 10,000 people at a plant in Spartanburg, S.C. The brand’s X3, X4, X5 and X6 SUV models and their variants are produced there.

Trump hit China last week with steep tariffs on about $34 billion worth of products.

China responded with retaliatory tariffs on American imports, including SUVs, soybeans and seafood.

2) Harley Davidson has announced that it was moving some of its operations overseas because Trump’s tariffs will raise prices of its bikes in the U.S. and shrink the market.

3) The country’s biggest nail maker, Mid-Continent Nail, said it laid off 60 U.S. employees on June 15 and that the whole company might go out of business by Labor Day. The Missouri company had been importing the steel for its nails from Mexico before the Trump administration placed a 25% tariff on the steel.

4) China  buys soy from Russia after canceling US orders over Trump threats

5) REC Silicon, which manufactures polysilicon for solar equipment, said it laid off 100 workers at its factory in Washington State because of the U.S.’s ongoing trade dispute with China. The company said its Washington plant has gone down to a quarter of its production capacity because of the dispute.

The Solar Energy Industries Association estimates that new tariffs imposed by the Trump administration in January will remove 23,000 jobs from the U.S. solar industry.

General Motors sent a letter to the Commerce Department complaining that further tariffs on imported auto parts and materials could result in higher car prices and, ultimately, a smaller GM.

5) Volvo just opened a new plant in Ridgeville, South Carolina, and promised that 4,000 new employees would eventually work there. The company is now saying it may have to break its hiring promise because of the Trump administration’s steel tariffs and the threat of retaliatory tariffs by other countries.

  “I said that I will be the greatest jobs producer that God ever created–and I mean that.”  Donald J Trump 

Sources: The Post and Courier (South Carolina), FastCompany.com

3) The country’s biggest nail maker, Mid-Continent Nail, said it laid off 60 U.S. employees on June 15 and that the whole company might go out of business by Labor Day. The Missouri company had been importing the steel for its nails from Mexico before the Trump administration placed a 25% tariff on the steel.

I saw this report a couple of weeks ago & all I could think of is....this town is screwed. We are talking about small town America & the biggest nail maker in the country going bye bye.

Piglets/Shrooms.......WTF?????

I've really been thinking about getting that X6.

I know. I'm going for a crossover. Either the X6 or Mercedes GLE coupe. I've never had a BMW before. I've had two Mercedes' but both were used. Looking forward to a "new" new car. Proper new.

Would love an X5 but it costs too much, I cant even think about spending 60k plus on a car, but if I were the X5 would be one Id consider.

Big boy is starting to take these tariffs personally, going a bit too far with his tangent temper tantrum.

Close to double that is what i'm looking at. It's crazy, I keep saying to myself, "H3ll, i'm damn near affording a Ferrari." but that fact is i'm not even close. It just feels weird being in thrle market for a 100k car but h3ll, i've got a buddy who just dropped something like 70k on a King Ranch. Cars/Trucks, like everything, just cost more now. Call it inflation, call it gouging...I think it's a little bit of both.

Sheesh 100k can get you one of those Tesla wing tops, Id choose that over an X5. And you are right you can style those out all day long, I guess I am admitting to being a bit on the frugal side. But at 60k for a car is frugal even a word to use?

3.5M less people on Food Stamps than 2 years ago. GDP 4.1 at 2nd quarter of 2018. How many times has that happened this century? I remember the new normal was 2.0 according to BO and the gang.

Of course everything isn't going to be perfect but the bottomline is there's no doubt that MAGA is working just fine. Sorry about that nail company. You're weeping allover yourself eh? 70,000 plants closed before Trump, you really care about any one of them? 

In 1791, Treasury Secretary Alexander Hamilton wrote in his famous Report on Manufactures:

"The wealth ... independence, and security of a Country, appear to be materially connected with the prosperity of manufactures. Every nation ... ought to endeavor to possess within itself all the essentials of national supply. These compromise the means of subsistence, habitation, clothing, and defence."

i dont get the part about January.