"While the Trump tariffs will directly raise the price of imported steel (and indirectly the price of domestic steel), it does nothing about the price of goods made FROM steel. So a domestic manufacturer of home appliances, such as Whirlpool, will have to pay more for steel used to make a refrigerator. But its foreign competitors will be able make refrigerators with untaxed steel and then ship the finished product to the U.S. without facing a tariff. This will give the foreign firm a competitive advantage over Whirlpool both at home and abroad. Whirlpool will shed profits and may shed workers. So whatever advantages are given to steel manufacturers will be paid for by companies and workers that use steel. The problem for Trump is that there are only 140,000 domestic workers in the steel-making industry, but more than six million workers in industries that make stuff FROM steel. (American Iron & Steel Institute)"
March 7, 2018
March 7, 2018
"Apart from overestimating America's bargaining position, Trump and his supporters grossly misunderstand the nature of international trade and how Americans have benefited from a system that has allowed us to continually consume foreign goods on credit. While this “benefit” has also placed a cost on domestic industries, I don’t believe that Trump has any idea how a trade war can reduce current American living standards."
America cannot win a trade war, we have become a service economy, no longer a manufacturing economy. This tariff will try to help the steel and aluminum industry, but we the consumers of every product with steel and aluminium. will pay more. And every industry the buys steel and aluminum will raise the price they have to sell the finished product, because it now cost more.
The Health Consensus Unravels
In one of the Wall Street Journal’s top-shared op-eds of 2014, investigative journalist Nina Teicholz threw down the gauntlet on the mainstream diet guidelines on fat:
“Saturated fat does not cause heart disease” — or so concluded a big study published in March in the journal Annals of Internal Medicine. How could this be? The very cornerstone of dietary advice for generations has been that the saturated fats in butter, cheese and red meat should be avoided because they clog our arteries. For many diet-conscious Americans, it is simply second nature to opt for chicken over sirloin, canola oil over butter.
The new study’s conclusion shouldn’t surprise anyone familiar with modern nutritional science, however. The fact is, there has never been solid evidence for the idea that these fats cause disease. We only believe this to be the case because nutrition policy has been derailed over the past half-century by a mixture of personal ambition, bad science, politics and bias.