jbluhm86
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"U.S. pig farmers are bracing for another round of steep tariffs this week from China and Mexico following President Trump's decision to impose hefty tariffs on the two countries.
According to CNBC, some major U.S. pork producers fear they will lose a significant amount of money once China and Mexico implement the tariffs, forcing some to move their investments overseas.
China is expected to begin fetching a 25 percent tariff on U.S. pork imports on Friday. Mexico, which imposed a 10 percent tariff on pork imports last month, is expected to double its import tax to 20 percent on Thursday. CNBC reported that China's taxes will exceed 70 percent when combined with previous import taxes.
"We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the U.S. is the right move if we won't be an exporting country," Ken Maschhoff, chairman of Maschhoff Family Foods and co-owner of the nation's biggest family-owned pork producer told CNBC.
Maschhoff told the outlet that the farm industry has been "asked to be good patriots."
"We have been. But I don't want to be the patriot who dies at the end of the war," he continued. "If we go out of business, it's tough to look at my kids and the 550 farm families that look us into the eye and our 1,400 employees."
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1 hour ago, calfoxwc said:
I'm no expert here on tariff stuff, I do have a question.
We have a major trade deficit with other countries.
We try to even it up a bit, and they go nuts, and hit back to make it
uneven again.
This is our fault? There is no reason for them to give a crap that they are making fools of our country over trade,
and they just demand that they keep the huge advantage.
What else is there besides tariffs? Magic beans?
Our steel companies shut down due to unfair competition. Yeah, it's costly to start them back up again.
What am I missing here?
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FoxNews 5 Cleveland: Steel tariffs starting to take toll on manufacturers in Northeast Ohio
CLEVELAND - The cost of doing business with one commodity is creating a lot of concern in Northeast Ohio as the price of steel soars. One local manufacturer is painting a grim picture as the U.S. holds its position on imposing metal tariffs.
"That type of cost increase is not built into our profit model," said Bill Adler, the owner of Stripmatic Products.
Adler said he is now paying a lot more for the material he needs to make automotive parts.
"The markets we currently supply are probably 90 to 95 percent automotive," Adler said.
Adler is worried about the fallout he’s already seeing and what it means long term if these tariffs stick around.
“Our prices have increased from 25 to 50 percent depending upon the product we're buying," Adler said.
The tariffs on steel are not only eating into profits, but stunting plans to diversify Adler’s business.
"We have not been all that successful."
A recent opportunity to start making parts for a different industry didn't pan out.
"The cost of stainless with the import tariffs just disqualified us from really being one of the players and being able to make that food processing equipment," said Adler.
That lost opportunity, along with soaring production costs, is poised to do long-term damage according to Adler.
"It's going to affect our profits, our employee's profit sharing, their ability to get pay increases, our ability to add new people and invest in new equipment," said Adler.
With the clock ticking, Adler is hopeful the over-saturation of foreign steel can be reigned in, and the tariffs will be rescinded.
"The key to this is how do we find the right tool to get China to not overproduce? The import tariffs are keeping every manufacturer awake at night," said Adler.
A recent estimate from a consulting firm predicts about 179,000 U.S. jobs could be lost, versus the 33,000 created as a result of the metal tariffs.
The last time the U.S. imposed tariffs on steel was back in 2002. Adler said it took his company four years to fully recover.
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CBS MoneyWatch: Canada tariffs on $12.6B of U.S. goods take effect
Canada has begun imposing tariffs on $12.6 billion in U.S. goods as retaliation for the Trump administration's new taxes on steel and aluminum imported to the United States. The tariffs went into effect Sunday.
Prime Minister Justin Trudeau's government released on Friday the full list of items that Canada is targeting. Some U.S. products, mostly steel and iron, face 25 percent tariffs, the same penalty the United States slapped on imported steel at the end of May. Other U.S. imports, from ketchup to pizza to dishwasher detergent, will face a 10 percent tariff at the Canadian border, the same as America's tax on imported aluminum.
President Donald Trump infuriated U.S. allies -- from Canada to Mexico and the European Union -- by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum. Canadian Foreign Minister Chrystia Freeland said Friday they had no other choice and will not escalate the dispute, but also will not back down. She called the tariffs regrettable.
Trudeau on Sunday spoke in Leamington, Ontario, where he thanked Canadians for standing united against President Donald Trump's sanctions. He urged Canadians to "make their choices accordingly" in considering whether to buy American products.
The selection of Leamington, known as Canada's tomato capital, was deliberate. The town is home to a food-processing plant that supplies tomato paste and other products to French's, a major competitor of Kraft Heinz. Heinz left Canada and sold its Leamington plant in 2014, after 105 years of Canadian operations.
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WOSU: Chinese Tariffs Could Cut Ohio Farmers' Income By More Than Half
An Ohio State study finds that some Ohio farmers could lose more than half of their annual income if a threatened 25 percent tariff goes into effect on soybeans and corn sent to China.
Ohio State researchers compiled data from six Ohio corn and soybean farms to create a representative Ohio farm that grows corn and soybeans.
They estimate that the proposed 25 percent tariff on exports to China would mean a 59 percent loss in annual net income to a typical Ohio farmer. Projections show income would drop from $63,577 to $26,107, under the tariffs. That is based on historical trends in yields on corn and soybeans, and projections for price drops in both commodities.
Soybeans are Ohio’s largest crop and the state’s top agricultural export.
China threatened the tariffs after President Trump proposed 25 percent tariffs against Chinese exports like washing machines and medical products. Earlier, China retaliated against tariffs on steel and aluminum with limits on U.S. pork.
That move also hit hard at Ohio farmers, who producce $600 million in pork products annually. But soybean tariffs would prove more devastating: They're Ohio's top crop, and China is the state's best buyer.
The study predicts that, across Ohio, the loss of soybean exports to China would be an estimated $241 million annually. Every year, Ohio exports about 31 percent of the soybeans and 2 percent of the corn it produces to China.
Ohio State says this is the first study on the impact of soybean and corn tariffs on the state.
"There are farmers who are struggling across the state," said Ben Brown, manager of Ohio State’s College of Food, Agricultural, and Environmental Sciences, in a press release. "If the proposed tariffs go into effect, we're going to have farmers who will have to exit the industry."
The financial losses come from an expected drop in Chinese demand for U.S. soybeans and corn, under the proposed tariff.
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Associated Press: EU to impose retaliatory tariffs on US imports from July
BRUSSELS (AP) —"The European Union on Wednesday announced it will start imposing duties from July on a list of U.S. products in response to President Donald Trump’s decision to slap tariffs on steel and aluminum imports from Europe...The EU says it will introduce “rebalancing” tariffs on about 2.8 billion euros’ ($3.4 billion) worth of U.S. steel, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice...
...The EU — the world’s biggest trading bloc — has also taken its case to the World Trade Organization. If the WTO rules in its favor, or after three years if the case is still going on, the EU plans to impose further tariffs of 3.6 billion euros on U.S. products.
“The EU’s reaction is fully in line with international trade law. We regret that the United States left us with no other option than to safeguard EU interests,” Trade Commissioner Cecilia Malmstrom said in a statement."
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But, hey, trade wars are easy, right?
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Business Insider: Trump looks prepared to kick off a trade war with the European Union
- The Trump administration will impose steel and aluminum tariffs on imports from the European Union, according to The Wall Street Journal.
- The tariffs come after talks between the EU and US failed to produce an alternative trade deal.
- The EU is expected to respond with tariffs on US goods, setting off a likely trade war.
Reuters: China vows to protect its interests from 'reckless' U.S. trade threats
“We urge the United States to keep its promise, and meet China halfway in the spirit of the joint statement,” Chinese Foreign Ministry spokeswoman Hua Chunying told a daily news briefing, adding that China would take “resolute and forceful” measures to protect its interests if Washington insists upon acting in an “arbitrary and reckless manner" China has said it will respond in kind to threats by Trump to impose tariffs on up to $150 billion of Chinese goods.
Bloomberg: Japan's Abe Hits Back at Trump's Plan to Slap Tariffs on Ally
""We’d consider going to the World Trade Organization" if the U.S. took steps to reduce imports, Abe said. In fact, Japan has already told the WTO that it may impose at least $264 million worth of tariffs on U.S. goods in retaliation for Trump’s tariffs on steel and aluminum imports, according to a notification to the WTO last week. Those levies have affected companies including JFE Holdings Inc. and Kobe Steel Ltd."
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On 4/20/2018 at 6:51 PM, Westside Steve said:
Okay kids let's see the hands who has PTSD?
We do! We do!
WSS
https://hub.jhu.edu/2016/12/01/hallucinogen-treats-cancer-depression-anxiety/
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21 hours ago, The Cysko Kid said:
Psilocybin mushrooms are just straight up awesome. Back in the day I had some wild experiences on them.
You should look up the research that John Hopkins University is doing about using psilocybin as a therapeutic treatment for PTSD and other forms of depression. It's really promising stuff.
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So...is this the meetup spot for the flat-earth group?
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Of course it's somewhat ironic to take the position that the constitution is not written in stone and can be changed at any time for any reason and that the founding fathers couldn't possibly understand today's world and then using Thomas Jefferson as your source.
WSS
¯\_(ツ)_/¯
I think his point is still valid, though. The Constitution was never meant to be set in stone; the fact that there are procedures written in to it to allow it to be changed via amendments demonstrates that. I'm not saying that we need to toss it and start anew, but, looking at how poorly some areas of our government are operating right now, I think a tune-up of sorts via a couple of well thought out amendments would help.
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"Some men look at constitutions with sanctimonious reverence, and deem them like the arc of the covenant, too sacred to be touched. They ascribe to the men of the preceding age a wisdom more than human, and suppose what they did to be beyond amendment. I knew that age well; I belonged to it, and labored with it...But I know also, that laws and institutions must go hand in hand with the progress of the human mind. As that becomes more developed, more enlightened, as new discoveries are made, new truths disclosed, and manners and opinions change with the change of circumstances, institutions must advance also, and keep pace with the times...Let us [not] weakly believe that one generation is not as capable as another of taking care of itself, and of ordering its own affairs. Let us, as our sister States have done, avail ourselves of our reason and experience, to correct the crude essays of our first and unexperienced, although wise, virtuous, and well-meaning councils...Each generation is as independent as the one preceding, as that was of all which had gone before. It has then, like them, a right to choose for itself the form of government it believes most promotive of its own happiness...This corporeal globe, and everything upon it, belong to its present corporeal inhabitants, during their generation. They alone have a right to direct what is the concern of themselves alone, and to declare the law of that direction; and this declaration can only be made by their majority. That majority, then, has a right to depute representatives to a convention, and to make the constitution what they think will be the best for themselves."
-Thomas Jefferson, in a letter to Samuel Kercheval, June, 1812
http://www.nationalreview.com/article/440506/constitutional-amendments-states-convention
http://www.conventionofstates.com/cossim
So much winning...
in POLITICAL DISCUSSION
Posted
Dayton Daily News: China tariffs sink prices for Ohio soybean farmers
New tariffs start today on U.S. soybeans imported to China, but Ohio farmers have already been feeling the pinch.
The price for a bushel of soybeans sank 14 percent in June and as of Friday had fallen to $8.40 a bushel on the Chicago Board of Trade, with the soybean futures market tumbling down in anticipation of the 25 percent tariffs on U.S. soybean imports.
That’s below the break even price for producing soybeans, which is about $9.70 a bushel, said Sam Custer, Darke County OSU Extension educator.
“If they don’t have soybeans sold ahead of time and if the market doesn’t come back up, you’re looking at being a dollar and a half under production cost on every bushel they produce,” Custer said...
...Ohio agricultural groups worked for decades to build up a market in China. Nearly a third of Ohio’s $2.5 billion soybean crop gets exported directly to China, but that supply chain could be disrupted by the tariffs that make U.S. soybeans more expensive than soybeans from other countries, particularly in South America.
And once competitors like Brazil move in and start supplying those buyers with soybeans at a cheaper price, it could be hard for U.S. farmers to win back those carefully built relationships, said Allen Armstrong, president of the Ohio Soybean Association...
...The tariff could drop China’s imports of soybeans by 69 percent on average. That would mean instead of a third of U.S. soybean crop being exported to China, only about a fifth would be.
For Ohio, this would account for a decrease of roughly $241 million in the value of soybean exports, according to a report from Ohio State University.