Post AumAK1dAmcgMExVQLA by Nonilex@masto.ai
(DIR) More posts by Nonilex@masto.ai
(DIR) Post #Aum829d26q8nvLn6vo by Nonilex@masto.ai
2025-06-04T04:16:32Z
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#US #tariffs on #steel & #aluminum imports doubled on Wednesday, as #Trump continued to ratchet up levies on foreign #metals that he claims will help revitalize American steel mills & aluminum smelters.The White House called the increased tariffs, which rose to 50% from 25% just after midnight Eastern time, a matter of addressing “#trade practices that undermine #NationalSecurity.” [his excuse for everything]#economy #inflation #recession #trumpcession #idiocracy https://www.nytimes.com/2025/06/04/business/economy/trump-tariffs-steel-aluminum.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=1A67FB7E-1544-410B-B020-60747CB53377
(DIR) Post #Aum8MJ5ae27N3bl3Lc by Nonilex@masto.ai
2025-06-04T04:20:13Z
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They were announced during #Trump’s visit to a #US #Steel mill last week, & appear to be aimed at currying favor w/ #steelworkers & the steel industry, including those in swing states like #Pennsylvania, where #USSteel is based.The higher #tariffs have already rankled close #allies that sell #metal to the #US, including #Canada & #Europe. They also sent alarms to #automakers, #plane #manufacturers, #HomeBuilders, #oil drillers & others that rely on buying metals.#economy #inflation #recession
(DIR) Post #Aum8g9j9A6bVoTj0ls by Nonilex@masto.ai
2025-06-04T04:23:48Z
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…Companies that use #steel & #aluminum to make their products criticized the #tariffs, saying they would add #costs for American #consumers.Robert Budway, the president of the Can Manufacturers Institute, said doubling the steel tariff would further increase the cost of canned goods at the #grocery store.“This cost is levied upon millions of American families relying on canned #foods picked & packed by US #farmers & can makers,” he said.#economy #inflation #food #prices #recession #Trump
(DIR) Post #Aum9B14vMrh9xzcuo4 by Nonilex@masto.ai
2025-06-04T04:29:21Z
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…Economists have pointed out that #tariffs on factory inputs such as #metals risk slowing #US #manufacturing, since they raise #prices for factories.…An analysis published by the US #InternationalTrade Commission, an independent, bipartisan govt agency, suggested that while the steel & #aluminum tariffs levied in #Trump’s 1st term helped American steel & aluminum producers, they hurt the broader #economy by raising prices for many other industries….#inflation #recession
(DIR) Post #Aum9TUElh8uNc62RcG by Nonilex@masto.ai
2025-06-04T04:32:34Z
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…Foreign govts have bristled at the idea that their #steel exports are a #NationalSecurity threat to the #US, in part because American #demand for the #metals far exceeds the country’s current ability to produce them.The US imports very little steel directly from #China because of the #tariffs that were previously in place. But the US steel industry argues that China’s massive steel production pushes down the price of #metal globally, making it harder for US mills to compete.#Trump #economy
(DIR) Post #Aum9rofrMWbdwoJNCq by Nonilex@masto.ai
2025-06-04T04:36:43Z
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#Canada is the largest foreign supplier of both #steel & #aluminum to the #UnitedStates. #Mexico, #Brazil, #SouthKorea & #Germany are also major suppliers of steel, while the #UAE, #China & South Korea supply the #US with small amounts of aluminum.Catherine Cobden, the president of the Canadian Steel Producers Association, a #trade group, said doubling the #tariff on imported steel “essentially closes the U.S. market to our domestic industry.”#Trump #economy #inflation #recession
(DIR) Post #AumA2W8qbcjjehyNw8 by Nonilex@masto.ai
2025-06-04T04:38:53Z
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The previous 25% #tariff on #steel already had an effect on #Canada’s producers. The steel association estimates that since the tariff went into effect in March, steel shipments to the #UnitedStates from Canada have fallen 30%.“Steel #tariffs at this level will create mass disruption & negative consequences across our highly integrated steel #SupplyChains & customers on both sides of the border,” Ms. Cobden said.#Trump #economy #inflation #recession
(DIR) Post #AumAK1dAmcgMExVQLA by Nonilex@masto.ai
2025-06-04T04:42:09Z
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The #Aluminium Assn of #Canada said in a statement on Tues that the expanded #tariff “makes Canadian exports to the US economically unviable” & that “the industry may be forced to diversify #trade toward the #EuropeanUnion.”#Electricity accounts for about 40% of the cost of smelting aluminum, & the trade group estimated that replacing Canadian aluminum w/ #US production would require the expansion of US power generation equivalent to 4 Hoover Dams.#Trump #grid #economy #inflation #recession
(DIR) Post #AumAuGaidcqb42dgye by Nonilex@masto.ai
2025-06-04T04:48:46Z
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…The #US #aluminum industry is too small to replace imports from #Canada without massive expansion & investment.Century Aluminum, a US aluminum maker, said last year that it would build the first new #AluminumSmelter in the United States in half a century, doubling domestic production. But the United States would remain dependent on imports for most of its aluminum.#Trump #energy #electricity #grid #infrastructure #climate #GovernmentSpending #economy #inflation #recession
(DIR) Post #AumB2kDsLv7BHVzsOm by Nonilex@masto.ai
2025-06-04T04:50:18Z
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[#Aluminium #smelting is highly #energy intensive, & in some countries is economical only if there are inexpensive sources of #electricity. Bet #Trump would use #coal which he has proposed to power #AI #DatabaseCenters.]#grid #infrastructure #climate #GovernmentSpending #economy #inflation #recession
(DIR) Post #AumBivDxq7yNZ39N5c by bouriquet@mastodon.social
2025-06-04T04:57:53Z
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@Nonilex Some aluminum smelters are near the Canadian border to use inexpensive Canadian hydro power…at least it WAS inexpensive.Recycle those aluminum cans.It takes 90% less electricity to recycle aluminum than to make it from ore.
(DIR) Post #AumoLnRMVi60yVNfRQ by nedhamson1@mastodon.social
2025-06-04T12:10:42Z
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@Nonilex will raise cost of all products that use steel
(DIR) Post #AumofWpPz11XFH2eES by GoatRoper@mastodon.social
2025-06-04T12:14:08Z
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@Nonilex I have my torch and pitchfork at the ready to chase the monster over the hill, where is everyone else?
(DIR) Post #AuohmyrjpPmcrkeYfA by 6g@mstdn.social
2025-06-05T10:06:35Z
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@Nonilex REthe United States would remain dependent on imports for most of its #aluminumSo messed up last week on a friday night #TrumpRally in Pittsburgh telling the #USSteel union about the increase of the #SteelTariff AND THE NEXT DAY, #Trump adding, oh, I ⭕forgot to add Aluminum to the #tariff 🙄 #mybad
(DIR) Post #Auohxdt0AcY4z5KOu0 by 6g@mstdn.social
2025-06-05T10:08:30Z
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@Nonilex REUnited States would remain dependent on imports for most of its #aluminumThe situation is also serious about the Global Structural #Steel Pipe Market, the US imports from South Korea and other countriesA #SouthKorean expert was on NBC saying the #TrumpTariffs will help the #Steelindustry but ⭕NOT the many US companies that need structural steel made from carbon or alloy steel, used in construction etc.