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 Post subject: The Tariff Thread
PostPosted: July 24 18, 11:51 am 
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Do we already have a thread dedicated to the tariffs? I didn't see one.

Diddy & IMA, what's your take on this?

Farmers to Receive Up to $12 Billion to Ease Pain From Trump’s Trade War

Quote:
WASHINGTON — The Trump administration on Tuesday will announce up to $12 billion in emergency relief for farmers hurt by the president’s trade war, according to two people familiar with the plans, in an effort to insulate food producers from looming financial losses that would be a direct result of Mr. Trump’s policies.

The aid to farmers, to be announced by the United States Department of Agriculture, would come through a direct assistance program, one designed to help with food purchase and distribution, and one specifically geared toward promoting trade, according to one of the people. Both spoke on condition of anonymity because they did not have authorization to pre-empt a planned announcement later Tuesday.


Quote:
Mr. Trump and his advisers have argued that while American producers may feel short-term pain from his protectionist stance, ultimately they will benefit from it as other countries lower their barriers to American products. In the meantime, the administration has sought ways for the Agriculture Department to help farmers survive the pain of retaliation. As part of the program to be announced on Tuesday, the department is expected to draw on the financial resources of a program known as the Commodity Credit Corporation, which helps shore up American farmers by buying their crops.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 11:56 am 
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Buying votes.

Which is by no means unique to the Trump administration. But probably ranks as the 12th most unethical thing they'll do today.

I wonder how many washing machines the Army needs.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 12:02 pm 
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My opinion is of course they are going to bail us out. The whole tariff thing is a big bunch of [expletive]. It's Trump acting tough, while doing Putin's bid to weaken our country, but in order for him and the other traitors on the right to get reelected they have to throw bones to their voters in the short term.


The tariffs have been bad for us farmers, but everything has been bad for us farmers for several years now. Prices are in the toilet and while the price of the end product of soy, corn, and wheat production is up, our prices are steady or down. Someone is making money somewhere but it's not us right now.

One thing not mentioned here is the skyrocketing price of equipment. Those tariffs effect the price of steel going into our tractors an implements and right now, I [expletive] you not, our Case IH dealer doesn't even know what a new tractor will cost next year because Case IH doesn't know. Of course high new equipment prices bring high used equipment prices. Used combines are up 12% this year alone.

As I've said before collapse the farm economy and collapse the entire rural economy. Almost every business in my town is tied to Ag, and the ones that aren't certainly rely on their customers who probably work in the Ag industry. It's hitting here hard already. We've lost 8 businesses in a year. I'm not talking some mom and pop start up that just didn't make it. I'm talking 8 long time businesses. Two fast food places, a hardware store, an electrician and electric supply place (supplied electric parts for grain bins etc). There are rumors of two more big dominoes to fall here this year. We will see.

So yeah we are getting a bail out. The traitors can try and blame this on Obama but the people out here know the truth. When I talk to people there isn't much talk about Trump any more and our local legacy Republican congressman is getting badmouthed an awful lot.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 12:04 pm 
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Popeye_Card wrote:
Buying votes.

Which is by no means unique to the Trump administration. But probably ranks as the 12th most unethical thing they'll do today.

I wonder how many washing machines the Army needs.


The decision is being roundly criticized by Republicans in Congress from farm states. They realize that it is not a long term solution and that farmers might lose these markets forever or for a very long time. Once China has been getting its soybeans from Brazil and elsewhere consistently for years, why go back to US suppliers if the US ever lifts the tariffs? And so on for every product to which these tariffs apply.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 12:23 pm 
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How are subsidies to farmers carried out? Does someone like IMA or Diddy get a check ? If not, who gets the $ and how does it filter down to IMA or Diddy?
This doesn't really clarify:
Quote:
The aid to farmers, announced by the United States Department of Agriculture, will come through a direct assistance program, one designed to help with food purchase and distribution and one specifically geared toward promoting trade.

Specifically geared toward promoting trade? huh.

Good ole "capitalism."


Last edited by Freed Roger on July 24 18, 12:46 pm, edited 4 times in total.

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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 12:33 pm 
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With tariffs (and tax reform for that matter) - nobody knows how this plays out, on the more local/consumer/individual taxpayer level AND the governmental budget level. And by nobody knows, that includes smart economic minds - much less an authoritarian toddler brained president.

Businesses/Rich people - who frankly are the entities that have any influence over govt: they often do not care what the game or angle is with regard to tariffs or taxation. They just need to know what the game is, so they can play it.

Time for some of the rich people to stand up to this authoritarian regime. I know it was enticing, having to only play one party, a circumstance they spent a lot of money apprehending; and it may initially cost them more money to buy democrats in addition to GOP - but hard to fathom them accepting this uncertainty for long.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 12:49 pm 
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Freed Roger wrote:
How are subsidies to farmers carried out? Does someone like IMA or Diddy get a check ? If not, who gets the $ and how does it filter down to IMA or Diddy?
This doesn't really clarify:
Quote:
The aid to farmers, announced by the United States Department of Agriculture, will come through a direct assistance program, one designed to help with food purchase and distribution and one specifically geared toward promoting trade.

Specifically geared toward promoting trade? huh.

Good ole capitalism.


The money comes from something called the Commodity Credit Corporation than can borrow directly from the Treasury which is then reimbursed by Congressional appropriations. I believe it is a Great Depression era entity designed to buy up surplus commodity crops when prices are low, as well as other stuff.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 1:23 pm 
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An article about Cummins Inc. which is located in Mike Pence's hometown. I now work for a company bought by Cummins but not in an area that would be hit by the restructuring the CEO alludes to.
Quote:
“I’m very worried,” said Tom Linebarger, the chief executive of Cummins, who met with President Trump over dinner at the White House in January in a bid to dissuade him from introducing steel and aluminum tariffs or tearing up free-trade agreements.

Linebarger, 55, warns of job losses ahead because thousands of jobs at Cummins and elsewhere in the area depend on trade...

The Cummins plants, which produce engines, generators and other equipment, epitomize how deeply international trade has become rooted in cities and towns throughout the nation. Cummins alone has 25,000 different suppliers and also its own chain of distribution, both of them largely international. Its U.S. base is bolstered by operations in the United Kingdom, China and India.

Linebarger said the president’s trade war hits the company in two ways, affecting both its incoming parts, which will be subject to tariffs, and its own products, on which retaliatory penalties will be assessed by countries targeted by Trump.

For Cummins, the two most corrosive tariffs will be those assessed on steel and aluminum, which began July 1 and cover $48 billion of imports, and the proposed $351 billion of automobile and auto part imports. Both have been justified as necessary for national security.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 1:44 pm 
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Quote:
“I’m very worried,” said Tom Linebarger, the chief executive of Cummins, who met with President Trump over dinner at the White House in January in a bid to dissuade him from introducing steel and aluminum tariffs or tearing up free-trade agreements.


I can't blame Joe's CEO for this meeting, -however this is the part that is bothersome and plays directly into Trump's game plan. He wants to be king and have the role of picking winners and losers. No doubt, Trump saw this notion ratified when all sorts of ass-clowns paid a visit to Trump Tower (Al Gore!?).
Maybe Cummings gets an exemption a subsidy or whatever - but the key is, they are reduced to beggars, and beholden to Trump for whatever they receive.

There is power in this control, but undoubtedly there is money in it for Trump as well.

Another factor with tariffs -as seen in saga of the nail mfg in Poplar Bluff MO Trumpland - ownership of companies are intertwined and global. They are applying for an exemption but they are affiliated with a Mexican company somehow. Scary Mexico.

Company like AB In-bev - how do tariffs work for that international conglomerate? I suspect the CEO pays Trump or one of his cronies a visit with a suitcase full of money.


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 Post subject: Re: The Tariff Thread
PostPosted: July 24 18, 2:12 pm 
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Who could have seen this coming?

viewtopic.php?f=30&t=60626&start=70


Socnorb11 wrote:
G. Keenan wrote:

All of the smart policy in the world won't make a difference because people don't vote for policies. They vote for people they feel some kind of connection with and the Democrats do not connect with rural voters. These farmers aren't stupid on agricultural policy or trade policy. They're willing to give Trump a pass because they have faith that he has some kind of ultimate strategy. And when the tariffs don't work, which they won't because this isn't the year 1955, Trump will just give them a scapegoat to blame -- immigrants & liberals -- and they'll eat it up because desperate, angry people are easy to manipulate.



I'm assuming he'll bump subsidies for farmers to cover his ass, too.


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