#MAGA... Jobs Edition...

[camille70]

BMW to shift some SUV production overseas in response to tariffs

BMW said Monday that it would move production for some of its SUVs out of the U.S. as a result of new tariffs placed on the vehicles, according to The Post and Courier in South Carolina.

Read the rest @
http://thehill.com/policy/finance/i...t-some-suv-production-overseas-in-response-to

Auto companies latest to raise alarm over Trump’s tariff policy

General Motors warned Friday that if President Trump pushed ahead with another wave of tariffs, the move could backfire, leading to “less investment, fewer jobs and lower wages” for its employees.

The automaker said that the president’s threat to impose tariffs on imports of cars and car parts – along with an earlier spate of penalties – could drive vehicle prices up by thousands of dollars. The “hardest hit” cars, General Motors said in comments submitted to the Commerce Department, are likely to be the ones bought by consumers who can least afford an increase. Demand would suffer and production would slow, all of which “could lead to a smaller G.M.”

Read the rest @
http://www.msnbc.com/rachel-maddow-show/auto-companies-latest-raise-alarm-over-trumps-tariff-policy

Volvo may cancel 4,000 worker job expansion in Trump-friendly South Carolina after being rocked with tariffs: report

Foreign-based car manufacturers who have invested billions of dollars in new car plants in South Carolina and other southern states that were solidly in President Donald Trump’s camp are now having second thoughts about hiring due to new tariffs that could make the cars prohibitively expensive if they exported to Europe and China.

Read the rest @
https://www.rawstory.com/2018/07/vo...riendly-south-carolina-rocked-tariffs-report/

Elon Musk Finalizes Agreement with China for Massive Tesla Factory

Elon Musk just signed an agreement with the government in Shanghai to build a Tesla factory in China. Recent reports note the factory could be capable of building more than 500,000 vehicles each year. This would put the new facotry's production level on par with that of the company's main electric vehicle plant in Fremont, California.

The agreed-upon factory could be Tesla's other attempt at breaking into the world's largest electric vehicle market. And, as many financial analysts have noted, Musk doesn't have much of a choice. The US-China trade war forced the American automaker to raise its prices by 20 percent in a lucrative market. Tesla sales in the China market have also slowed considerably. During the first quarter, sales dropped 15 percent. After the tariffs were imposed, sales dropped 30 percent.

Read the rest @

https://interestingengineering.com/...greement-with-china-for-massive-tesla-factory

At least everyone will feel the pain. Oh wait...

Donald Trump's China Tariffs Don't Apply to Ivanka

Despite her father’s rallying cry to “buy American and hire American,” 100% of Ivanka Trump’s fashion products were made overseas—at least until early 2017.

And now her goods are avoiding the sweeping tariffs enacted by President Trump in his trade war with China. On Friday morning, Trump implemented $34 billion in tariffs on Chinese goods ranging from auto parts to medical devices, according to the Huffington Post.

Clothing and shoes, like those imported by Ivanka Trump’s company, were spared.

Read the rest @

http://fortune.com/2018/07/09/donald-trumps-china-tariffs-dont-apply-to-ivanka/

 

[ThatRobGuy]

Hardcore Trump supporters blaming UAW for this in 3...2...

 

[camille70]

After Months of Asking for an Alternative, Soy Farmers Hit by China Tariff

“Soybeans are the top agriculture export for the United States, and China is the top market for purchasing those exports,” said John Heisdorffer, a soybean grower from Keota, Iowa, and president of the American Soybean Association (ASA). “The math is simple. You tax soybean exports at 25-percent, and you have serious damage to U.S. farmers.”

Read the rest @

https://soygrowers.com/months-asking-alternative-soy-farmers-hit-china-tariff/

Take Our Cheese, Please: American Cheese Makers Suffer Under New Tariffs
Chinese, Mexican tariffs on U.S. cheese and whey are hurting farmers and driving up stockpiles

Cheese makers that rely on foreign sales are suffering as China and Mexico raise tariffs on U.S. mozzarella and provolone.

BelGioioso Cheese Inc., a second-generation family company in Wisconsin, has seen sales to Mexico drop since officials there implemented tariffs of up to 15% in early June on most U.S. cheese. The levies were a response to tariffs the U.S. placed on Mexican steel and aluminum.

On Thursday, Mexico was slated to raise its levy on most U.S. cheese to as much as 25%, while China on Friday is implementing tariffs on $34 billion of U.S. goods, including cheese and whey, a dairy byproduct often fed to livestock.

“It’s a nightmare,” said BelGioioso President Errico Auricchio.

Milk consumption in the U.S. has been falling for decades, prompting dairies to turn more of it into cheese. To sell it all, farmers have aggressively marketed their products to growing middle-class populations in Mexico and Asia.

Read the rest @

https://www.wsj.com/articles/take-o...se-makers-suffer-under-new-tariffs-1530783005

 

[camille70]

EU and Mexico agree new free trade pact
BRUSSELS (Reuters) - The European Union and Mexico reached an agreement on Saturday on a new free trade deal, a coup for both parties in the face of increased protectionism from the United States under President Donald Trump.

Since its plans for a trade alliance with the United States were frozen after Trump’s election victory, the EU has focused instead on trying to champion open markets and seal accords with other like-minded countries.

The agreement in principle with Mexico follows a deal struck last year with Japan and comes ahead of talks next week with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay.

“With this agreement, Mexico joins Canada, Japan and Singapore in the growing list of partners willing to work with the EU in defending open, fair and rules-based trade,” said European Commission President Jean-Claude Juncker.


Read the rest @
https://www.reuters.com/article/us-...exico-agree-new-free-trade-pact-idUSKBN1HS0PF

 

[Desk trauma]

After Months of Asking for an Alternative, Soy Farmers Hit by China Tariff

“Soybeans are the top agriculture export for the United States, and China is the top market for purchasing those exports,” said John Heisdorffer, a soybean grower from Keota, Iowa, and president of the American Soybean Association (ASA). “The math is simple. You tax soybean exports at 25-percent, and you have serious damage to U.S. farmers.”

Read the rest @

https://soygrowers.com/months-asking-alternative-soy-farmers-hit-china-tariff/

Take Our Cheese, Please: American Cheese Makers Suffer Under New Tariffs
Chinese, Mexican tariffs on U.S. cheese and whey are hurting farmers and driving up stockpiles

Cheese makers that rely on foreign sales are suffering as China and Mexico raise tariffs on U.S. mozzarella and provolone.

BelGioioso Cheese Inc., a second-generation family company in Wisconsin, has seen sales to Mexico drop since officials there implemented tariffs of up to 15% in early June on most U.S. cheese. The levies were a response to tariffs the U.S. placed on Mexican steel and aluminum.

On Thursday, Mexico was slated to raise its levy on most U.S. cheese to as much as 25%, while China on Friday is implementing tariffs on $34 billion of U.S. goods, including cheese and whey, a dairy byproduct often fed to livestock.

“It’s a nightmare,” said BelGioioso President Errico Auricchio.

Milk consumption in the U.S. has been falling for decades, prompting dairies to turn more of it into cheese. To sell it all, farmers have aggressively marketed their products to growing middle-class populations in Mexico and Asia.

Read the rest @

https://www.wsj.com/articles/take-o...se-makers-suffer-under-new-tariffs-1530783005

Don’t weep for the farmers, the feds will just pick your pocket, or rather our childrens future pockets because hooray deficit, and put what they gather into the pockets of the poor mouthing farmers.

 

[camille70]

CaseLabs announces it has been 'forced into bankruptcy and liquidation'

CaseLabs is a US-based PC case manufacturer, known for quality products like the Magnum SMA8 featured in our best full tower cases guide. Unfortunately, the company announced on social media that it is "closing permanently" and will not be able to fill all current orders.

"We have been forced into bankruptcy and liquidation," CaseLabs said in a statement. "The tariffs have played a major role raising prices by almost 80 percent (partly due to associated shortages), which cut deeply into our margins. The default of a large account added greatly to the problem... We reached out for a possible deal that would allow us to continue on and persevere through these difficult times, but in the end, it didn’t happen."

Read the rest @
https://www.pcgamer.com/caselabs-announces-it-has-been-forced-into-bankruptcy-and-liquidation/

 

[camille70]

Stack on makes the safes for Field and Stream....

Chicago-area manufacturer to lay off 150 people, move operations to Mexico, to avoid tariffs on Chinese metal

A manufacturer of storage safes is closing its two Chicago-area factories and moving operations to Mexico, in part because of the Trump administration’s tariffs on metal from China.

Stack-On Products plans to lay off 128 people at its facility in north suburban Wauconda and 25 people at its McHenry plant when it closes both facilities Oct. 12, said Al Fletcher, human resources director for Alpha Guardian, the Las Vegas-based parent company.

“The operation is really not profitable,” Fletcher said. He said the decision to relocate operations to Juarez, Mexico, was made about two months ago when President Donald Trump announced tariffs on numerous goods and materials from China as well as other countries, to reduce what the president has called an unfair trade deficit.

Read the rest @

http://www.chicagotribune.com/busin...stack-on-tariffs-0815-biz-20180814-story.html

 

[Aryeh Jay]

Trade wars are easy!!

 

[Nithavela]

Trade wars are easy!!

Trade wars are so easy that they basically wage themselves once started, with hardly anymore input required (or possible).

 

[camille70]

World's biggest shipper Maersk says tariffs will hurt US most

The US economy will be hit many times harder than the rest of the world by an escalating global trade war, according the chief executive of AP Moller-Maersk.

Soren Skou, who runs the world’s biggest shipping company from Copenhagen, said the fallout of the current protectionist wave “could easily end up being bigger in the US”. Tariffs could slow global annual trade growth by 0.1 to 0.3 per cent, although for the US the effect could be “perhaps 3 or 4 per cent”, he said at a presentation at Maersk’s headquarters. “And that would definitely not be good.”

Read the rest @
https://www.thenational.ae/business...aersk-says-tariffs-will-hurt-us-most-1.761725

 

[dgiharris]

I really wish you'd stop with all the Fake News

Besides Trump says Trade wars are easy...

How could you not trust him? When has he ever lied to us?

Hardcore Trump supporters blaming UAW for this in 3...2...

Trump administration engineered major distraction in 3...2....

seriously, this administration's ability to take the focus off of key important items with trivial crap is genius, I mean that literally, no snark, it is genius.

I don't know if the Omarosa stuff is / was planned or just a happy accident... but it is stuff like that that keeps us from looking at the real emergencies and mistakes this administration creates by the truckload

 

[camille70]

Alibaba Founder Jack Ma Just Backed Down From His Promise of 1 Million New U.S. Jobs. Here’s Why

Alibaba founder Jack Ma said the Chinese company will no longer create one million new jobs in America, as he had previously promised U.S. President Donald Trump due to the rocky trade relationship between the two nations.

On Wednesday Ma told Xinhua, a Chinese news site, “The current situation has already destroyed the original premise.”

Read the rest @
Alibaba Founder Jack Ma Just Backed Down From His Promise of 1 Million New U.S. Jobs. Here’s Why

 

[camille70]

Trump's tariffs putting the squeeze on the Midwest

President Trump has been promising that his trade war strategy might mean short-term pain, but would ensure long-term gain, and bring jobs and prosperity back to US. Yet in Wisconsin's biggest city, Milwaukee, the opposite has happened.


Read the rest @ Trump's tariffs putting the squeeze on the Midwest

 

[camille70]

Trump's tariffs have already cost Ford $1B; now it's planning layoffs
Ironically, Ford may have to cut production of some models, potentially reducing U.S. jobs, as a result of China's tit-for-tat tariffs.

Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a "redesign" of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company announced.

The number of jobs that will be axed is unknown at this point.

“A lot of the (reorganization) is about making different choices about strategy,” Chief Financial Officer Bob Shanks told NBC News, adding that the goal isn’t just to slash spending but to improve the “fitness” of the company.

However, a recent report by Morgan Stanley estimates "a global headcount reduction of approximately 12 percent,” or 24,000 of Ford's 202,000 workers worldwide. "Such a magnitude of reduction is not without precedent in the auto industry,” analysts wrote in the investment note.


Read the rest @
Trump's tariffs have already cost Ford $1B; now it's planning layoffs