SoundMods wrote:
This isn't a criticism of you -- a large number of voters got sucked in by Trump's bullshit.
Can you give me two examples of such false propoganda?
Quote:
Coming from someone with actual experience -- I found out that U.S. steel makers instead of being competitive with China has simply raised their prices to match the Tariff loaded Chinese prices.
In the last 80s and early 80s, I was working in civil engineering. I am aware of the troubles of steel dumping (at that time, Japan) and its effect on US steel companies.
Let me tell you a secret. No country can compete with China in its present business paradigm. Even the countries with low labor cost like India cannot compete with China. Last time I was there, was surprised to China is dumping even cheap plastic stuff.
Since the Bill Clinton's days, it is well known fact that China is artificially keeping its currency value low, so its exports are cheaper. China was devalued as much as 40%. Every US president since Bill Clinton tried to convince China to correct the valuation of its currency but failed miserably. In addition, China gives huge tax incentives to exports making their products even cheaper. Chinese Communist Party's business philosophy is not making profit, it is accumulation of wealth and technology.
The US politicians and business community has supported this paradigm for their own selfish reasons. For the businesses, production costs came down (by shifting the production facilities to China) and the politicians did not have to worry about inflation.
Coming back to the subject Steel industry, China built massive steel production capacity. Its goal is to become the world's steel supplier. They lured Australia into exporting all their iron ore production to China. Stupid Australian politicians welcomed the increase in revenues, not realizing that in the long run, they become dependent on China for steel.
It is absolutely not possible for any country to compete with China's steel dumping. That is the reason for Trump's steel tarrifs, to give the domestic industry fair prices and chance to survive.
Fortunately for us, Trump is the first President who is trying to make US less dependent of cheap Chinese imports. That is one of the reason independent voters like me voted for him.