Connect with us

Big League Economics

Tariffs On China Alone Won’t Protect U.S. Steel

Published

on

In early March, President Trump announced forthcoming import tariffs on both steel and aluminum, leaving key trade allies scrambling for possible exemptions and prompting wild speculation of artificial price inflation.

European Union trade commissioner Cecilia Malmstrom abruptly flew to Washington to push back against the proposed measure. Ultimately, the commission proved successful, as the EU, Argentina, Australia, Brazil, Canada, Mexico, and South Korea received exemptions, protecting two-thirds of world steel production from the proposed tariffs.

While smoothing over relations with allies, these exemptions quickly undermined the initial leverage the proposed tariffs granted, representing a serious threat to the sustainability of the U.S. steel industry.

Trending: Mike Lee Passes Big Tech H-1B Visa Giveaway in Senate Without Objection

Immediately following the announcement of tariff exemptions on March 22, shares of U.S. Steel Corp dropped 11 percent, while the S&P steel index fell 7.4 percent, the largest single-day drop since 2011. These economic downturns could easily jeopardize the creation and sustainment of domestic steel jobs, including the 500 new jobs announced by U.S. Steel in March.

take our poll - story continues below

Did Kyle Rittenhouse act in self defense?

  • VOTE NOW: Did Kyle Rittenhouse act in self defense when he shot three BLM rioters? 

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Big League Politics updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Fortunately, the tariff exemptions are temporary, bearing a May 1 expiration date. When these measures have lapsed, the president should continue to use tariffs to hold bad actors accountable.

These economic measures have already given the Trump administration an effective bargaining chip to combat steel market overcapacity, and to give American companies access to foreign markets they were previously barred from.

South Korea agreed to reduce its steel exports to the U.S. by 30 percent in March, all to avoid Trump’s proposed 25 percent tariff.  Additionally, the agreement allows U.S. car companies to sell 50,000 cars per year in South Korea, forgoing additional testing. This exercise in South Korea proves that tariffs, or the mere threat of tariffs, work.

“In lieu of tariffs on steel, we have a quota which is equal to only 70 percent of their shipments from the last few years, and this will be as effective as the tariffs, and preserve the integrity of the steel industry. So let’s not talk about exemptions letting anybody out,” Trump trade adviser Peter Navarro told NPR, and his judgement rings true.

Trump recently placed $60 billion in tariffs on China, an actor that depresses U.S. steel production and prices by illegally subsidizing domestic production of steel to sell in the global marketplace, also known as “dumping.”

While this is an excellent move, China isn’t the extent of the issue, as 85 percent of U.S. steel trade cases have involved countries other than China in the last four years.

In 2015, six major steelmakers filed anti-dumping and countervailing duties charges against China, India, Italy, South Korea, and Taiwan, alleging a violation of international trade law by importing government-subsidized steel.

“These unfairly traded imports have seriously impacted pricing in the U.S. market, which has resulted in a significant negative effect on our production, sales and earnings,” AK Steel President James Wainscott wrote in a statement.

Clearly, in order to protect the U.S. steel industry, the president should not consider further exemptions, as even trade “allies” are actively engaging in predatory business practices. By extending tariffs to all countries that break the rules, Trump could shore up our economy and national security, keeping a vital domestic industry alive.

Big League Economics

VIDEO: A Tired-Looking Hillary Clinton Shills for ‘The Great Reset’ Agenda at Globalist Forum

Did she run out of adrenochrome or something?

Published

on

A recently recorded video of failed presidential candidate Hillary Clinton, who looks like she missed her most recent appointment for a fetal-cell spine injection, shows the two-time loser shilling for “The Great Reset” agenda.

Although Clinton does not mention “The Great Reset” by name, she endorses the technocratic socialist agenda that is obscured by the term.

“We’re going to have to take a hard look at how we can better frame how the markets work so that we begin to move away from the shareholder-centric approach, from the short-term returns that practically every business CEO that I’ve ever worked with, or talked with, has said, you know, distorts the market,” a demonic-looking Clinton said at the 2020 New Economy Forum hosted by Bloomberg.

“I think it’s time to look at what can make capitalism market operations work much more effectively and, frankly, equally to help build a real economy by shifting some of the incentives and assumptions that have grown into the system over the last fifty years,” the ghoulish former secretary of state added.

take our poll - story continues below

Did Kyle Rittenhouse act in self defense?

  • VOTE NOW: Did Kyle Rittenhouse act in self defense when he shot three BLM rioters? 

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Big League Politics updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Her clip can be seen here:

Big League Politics has reported on the many globalist operatives who are endorsing the Great Reset as a way to permanently transform society while the world is gripped with mass hysteria over the COVID-19 scamdemic and destabilized due to media-promoted race riots and migrant invasions:

A leading globalist elite closely associated with the World Economic Forum has openly predicted that the world will never return to a sense of normalcy that existed prior to the coronavirus pandemic. Klaus Schwab made the concerning claim in his new book, “The Great Reset.”

“Many of us are pondering when things will return to normal,” wrote Schwab in The Great Reset. “The short response is: never. Nothing will ever return to the ‘broken’ sense of normalcy that prevailed prior to the crisis because the coronavirus pandemic marks a fundamental inflection point in our global trajectory.”

Schwab went on to predict that human history would be differentiated between an era before the pandemic and what comes after. He likened the historical event of the coronavirus pandemic to the birth of Christ, a peculiar slight to Christians who view the life of Jesus as an event quite unlike the spread of a disease.

“Radical changes of such consequence are coming that some pundits have referred to as ‘before coronavirus’ (BC) and ‘after coronavirus’ (AC) era. We will continue to be surprised by both the rapidity and unexpected nature of these changes – as they conflate with each other, they will provoke second-, third-, fourth- and more-order consequences, cascading effects and unforeseen outcomes,” writes Schwab.

In addition to being a longstanding patron of the globalist WEF’s yearly Davos gatherings, Schwab was a steering committee member of the Bilderberg Meetings. He was listed as an “international” member of the Bilderberg group’s executives, despite being a German national.

Managerial elites have spoken in open terms about their plans to redistribute the private property of average people to megacorporations and governments, compel the public to eat insects as a replacement for meat, and to gradually eliminate the use of personal automobiles.

Schwab staked out his vision of digitized corporate dominance of society in a recent speech given to the World Economic Forum.

If the vote steal against President Donald Trump is not overturned, the world is looking at a thousand years of darkness with all of these satanic elites on the same page ready to put the boot around humanity’s neck forever.

Continue Reading
It's time to name Antifa a terror org! Sign your petition now!


Trending