KORUS Details Emerging – South Korea Agrees to 30% Reduction in Steel, Accepts Doubling of U.S. Autos, Accepts 20 Year Extension on Truck Tariff…
KORUS Details Emerging – South Korea Agrees to 30% Reduction in Steel, Accepts Doubling of U.S. Autos, Accepts 20 Year Extension on Truck Tariff…
Also breaking, Xi and Un issue joint statement committing to denuclearize the Korean Peninsula. Not getting my hopes up, and remains to be seen what Xi will demand from Trump, Japan, Vietnam etc.
The steel level us 2.86 million tons. Which actually isn’t that much. A reduction of 1.2 million tons (from just over 4) is a drop in the bucket but it is something.
How is a reduction in Korean steel exports to the U.S. an accomplishment? Same goes for an extension of tariffs on Korean truck exports to the U.S.
cause the Kor agreed to it. Maybe something to do with the US military keeping Norks at bay?
All the foreign trade news is good, but the one thing the people voted for, and probably one of the easiest promises to deliver on, he’s completely dropped the ball. 1.3 trillion and no funding for a wall? Why piss off your base for no reason. Give them the wall, and everyone is happy.
p.s. set up a disqus account, captcha sucks.
So how could this possibly be a negative for America ? To have (more) balanced FAIR Trade with one of our Allies and Trade partners? One on One … without the subterfuge of a dozen other nations wrapped into an inscrutably complex trade deal?
I’m waiting … what is WRONG with FAIR TRADE?
We have spent decades making our trade agreements look like worldwide Affirmative-action programs that served ONLY to enrich a few Elite Multinational Globalist Corporations. In the same way that Affirmative-action programs at colleges ONLY helped college Administrators get RICH!
Expecting all trade to be balanced is juvenile. Believing it should be balanced is also juvenile. Economics doesn’t work that eay.
Indiana Jane, this is Davers6, aka ‘Carolina’ Dave
1. I think you (like millions of others) are confusing the recent $1.3 trillion ‘Omnibus spending bill’ with a ‘Budget’. It’s NOT a Budget … it’s a ‘continuing resolution’ to keep the U.S. federal govt “open” / funded / functioning until the end of THIS fiscal year at midnight Sept 30, 2018 … right before the Nov. 6th mid-term elections.
2. Knowing what we both know about President Trump’s willingness to go toe-to-toe versus ‘the swamp’, what do you think he’ll do starting October 1st? I think he will challenge ALL senators and congressional candidates to publicly declare whether they will or will not vote to support Trump’s major agenda items such as building the wall, NO amnesty for illegals, repealing Obamacare, school choice, welfare & food stamp reform, etc. etc. He has already clearly declared he will NEVER SIGN another spending bill like this one.
3. Because it’s NOT a ‘Budget’ and is only an ‘Omnibus spending bill’ there is literally NO CONSTITUTIONAL OR LEGAL OBLIGATION for the Executive Branch (headed by the President) to actually spend any of the money the way it was allocated. Congress ‘allocates’ but the Executive branch (led by the President) does the actual ‘spending’. Trump and his cabinet can move that $1.3 trillion around toward ANYTHING they wish to support (i.e. – the wall) and away from ANYTHING they do not wish to support (i.e. – Planned Parenthood).
4. In summary, with that Omnibus spending bill Trump defeated ‘the swamp’ AGAIN, despite the MSM being too stupid to know the constitutional realities of what just happened, and too unwilling to report facts even if they do known them.
Watch and learn … we are all going to be cheering loudly (again) for Trump on October 1st when this $1.3 trillion runs out.
So how many steel jobs will this create?
https://www.bloomberg.com/news/articles/2017-06-21/how-just-14-people-make-500-000-tons-of-steel-a-year-in-austria
Using the math here as little as 45.
Read better, thousands of jobs.
I did not call it a budget. I know it was a spending bill, but for all intents and purposes the average voter has little or no understanding of the difference. The Wall, the big beautiful wall was a major campaign plank. Deportations, more border patrol, and security was the main ticket that delivered the White House. Schumer got a tunnel and the average voter feels he got the shaft.
As for the wall, if it was always going to be built by the military as Trump seems to imply these days, why call for bids. Have prototypes built, and personally inspect them, if you’re just going to bypass capitalism? He’s put himself in a bad spot and is going to cost him and the GOP both houses, and then he will sit as a lame duck until he’s removed.
p.s. what sort of idiot signs a 2,272 page document without reading?
Can it be said that the socialist extremists in the provinces are your basic hypocrites?
Yes it can.
Its what socialists do.
Read better “as little as”
The reality is many of America’s steel mills are relatively ancient fossils. Labor intensive yes but that’s also why they’re not competitive.
Trump should instead be focusing on modernizing the industry. Reward investments rather than what he’s doing now.
And it is juvenile to interpret “balanced” as meaning balanced outcomes. No, just balanced RULES. You don’t get to PUNISH my exports while I sit on my hands and do NOTHING. Now THAT’S juvenile