Here's How Many Jobs America Could Lose Because of the Trump Tariffs
President Donald Trump has argued that increased tariffs on goods imported from overseas are necessary for national security, and for the sake of boosting American business interests and the economy in general. But the fallout of the Trump tariffs may include job losses for hundreds of thousands of American workers.
On Monday, the stock market plunged, with a broad selloff in tech stocks and the Dow dropping over 300 points. The iconically American motorcycle manufacturer Harley-Davidson also said on Monday it was moving some production operations overseas. And word spread that a Missouri nail manufacturer named Mid-Continent Nail just laid off 60 workers and could be out of business by the end of the summer.
The Trump trade war has been blamed for all of the events above. Whats more, a wide range of analysts and studies shows that the Trump tariffs are likely to kill the jobs of many more American workers, either because protectionist trade policies push companies to shift jobs overseas or because companies are forced to eliminate jobs entirely after finding they can no longer compete in the global marketplace.
http://time.com/money/5322347/trump-tariffs-jobs/
Yonnie3
(17,482 posts)We are not a re-seller, we deploy this equipment on short-term jobs. This equipment has never been built in the US. It is available in the US with various brand names at three to four times the price. The only difference is the US companies provide warranty exchange in a timely manner. We buy spare parts and do our own repairs and maintenance.
Our planning is at a standstill until we can find out what will happen to our costs. We have turned down or delayed bidding on large jobs where we would have to add equipment. We have no employees, only contractors, so we have no layoffs.
Wellstone ruled
(34,661 posts)This is the Chicago School of Economics Business Model,which came to be during the Reagan years.
Yonnie3
(17,482 posts)I have taken macro and micro economics classes, and seem to recall the Reagan Economics. It has been a while. Googling now.
ETA: meant to say Reaganomics.
Wellstone ruled
(34,661 posts)Economics. Had a Econ Prof warn us about this Model in 1961,he himself was a Chicago Alum. And he warning came true.