Mainecat Posted June 16, 2018 Share Posted June 16, 2018 Trump MAGA Maine companies are feeling the consequences of Trump's steel tariffs Source: Bangor Daily News North Berwick sports-seating manufacturer Hussey Seating is sounding alarms about the effect that President Donald Trump’s steel tariffs are having on its bottom line – a concern independent Maine Sen. Angus King said is widespread in the state and beyond. Hussey CEO Gary Merrill said his company and many steel-based businesses in the Northeast depend on Canadian suppliers for raw materials, and that the tariffs that the White House announced recently will damage revenues at the company, which employs 300 people. “It’s a significant impact to us,” Merrill said. “A lot of our backlog is already in place, and we’ve quoted those jobs with the old pricing in place. So it will affect our bottom line this year. And then going forward we’re going to have to pass those costs on to our customers because there’s no way we can absorb them and it could impact our competitive position with our competitors, especially our foreign competitors.” Trump’s recent trade action includes a 25 percent tariff on Canadian steel and a 10 percent tariff on aluminum. Merrill said that the commodities market started reacting to the expected tariffs months ago, and between them and other market forces, Hussey’s steel costs have already spiked 45 percent this year. <more> Read more: https://bangordailynews.com/2018/06/16/business/maine-companies-are-feeling-the-consequences-of-trumps-steel-tariffs/ Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted June 16, 2018 Share Posted June 16, 2018 Coincidence that they didn’t explain to what extent it will hurt their bottom line? Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 Fuck you MC......from the bottom of my heart. Die in a fire you piece of fucking dog shit Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted June 16, 2018 Gold Member Share Posted June 16, 2018 7 minutes ago, f7ben said: Fuck you MC......from the bottom of my heart. Die in a fire you piece of fucking dog shit His fake outrage knows no bounds. Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted June 16, 2018 Share Posted June 16, 2018 The article is right. The market started jacking prices on steel months ago. Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted June 16, 2018 Share Posted June 16, 2018 Though shit and fuck chink steel Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 3 minutes ago, ICEMAN! said: The article is right. The market started jacking prices on steel months ago. Funny what happens when you threaten the worlds supply of slave made government subsidized chinese garbage steel Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted June 16, 2018 Gold Member Share Posted June 16, 2018 What company quotes jobs based on what they "think" material will cost them in the future? If they have to stick to thier quotes, would not the suppliers have to stick to what they quoted the factory as well? Quote Link to comment Share on other sites More sharing options...
GGNHL Posted June 16, 2018 Share Posted June 16, 2018 I'm glad MC doesn't live in this state, he'd cry every day about Paul Lepage's awesomeness! Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted June 16, 2018 Share Posted June 16, 2018 20 minutes ago, f7ben said: Funny what happens when you threaten the worlds supply of slave made government subsidized chinese garbage steel Aluminum went up too Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted June 16, 2018 Share Posted June 16, 2018 5 minutes ago, Stephen Hawking said: What company quotes jobs based on what they "think" material will cost them in the future? If they have to stick to thier quotes, would not the suppliers have to stick to what they quoted the factory as well? Suppliers will quote the time period any quote is valid for. Problem is some/many jobs take much longer to get processed through procurement. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 2 minutes ago, ICEMAN! said: Aluminum went up too And wood construction products have more than doubled in the last 2 years........and gas prices are up 50% what the fuck is your point.....its called real demand driving prices Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted June 16, 2018 Share Posted June 16, 2018 (edited) 13 minutes ago, f7ben said: And wood construction products have more than doubled in the last 2 years........and gas prices are up 50% what the fuck is your point.....its called real demand driving prices I thought steel was going up because of threatening Chinese steel? Now it’s just supply and demand? Tariffs have no effect? Aluminum went up due to the tariffs. Edited June 16, 2018 by ICEMAN! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 16, 2018 Platinum Contributing Member Share Posted June 16, 2018 Inflations been low for years due a slow growth. Time for prices to rise. Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted June 16, 2018 Share Posted June 16, 2018 China tariffs on U.S. soybeans could cost Iowa farmers up to $624 million https://amp.desmoinesregister.com/amp/705121002?__twitter_impression=true Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 4 minutes ago, ICEMAN! said: I thought steel was going up because of threatening Chinese steel? Now it’s just supply and demand? Tariffs have no effect? Aluminum went up due to the tariffs. The price of steel was decimated for a decade because of stagnant economy and chinese over supply. This is a sharp correction than should have been a gradual one. Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted June 16, 2018 Share Posted June 16, 2018 2 minutes ago, f7ben said: The price of steel was decimated for a decade because of stagnant economy and chinese over supply. This is a sharp correction than should have been a gradual one. I saw roughly a drop per pound of 20 cents from the high in 2009 and then it slowly worked it’s way back up before this recent tariff spike. It’s still not quite where it was. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 16, 2018 Share Posted June 16, 2018 1 hour ago, Mainecat said: Trump MAGA Maine companies are feeling the consequences of Trump's steel tariffs Source: Bangor Daily News North Berwick sports-seating manufacturer Hussey Seating is sounding alarms about the effect that President Donald Trump’s steel tariffs are having on its bottom line – a concern independent Maine Sen. Angus King said is widespread in the state and beyond. Hussey CEO Gary Merrill said his company and many steel-based businesses in the Northeast depend on Canadian suppliers for raw materials, and that the tariffs that the White House announced recently will damage revenues at the company, which employs 300 people. “It’s a significant impact to us,” Merrill said. “A lot of our backlog is already in place, and we’ve quoted those jobs with the old pricing in place. So it will affect our bottom line this year. And then going forward we’re going to have to pass those costs on to our customers because there’s no way we can absorb them and it could impact our competitive position with our competitors, especially our foreign competitors.” Trump’s recent trade action includes a 25 percent tariff on Canadian steel and a 10 percent tariff on aluminum. Merrill said that the commodities market started reacting to the expected tariffs months ago, and between them and other market forces, Hussey’s steel costs have already spiked 45 percent this year. <more> Read more: https://bangordailynews.com/2018/06/16/business/maine-companies-are-feeling-the-consequences-of-trumps-steel-tariffs/ It leaves cheap Chinese steel for the rest of the world to use. Quote Link to comment Share on other sites More sharing options...
Guest Posted June 16, 2018 Share Posted June 16, 2018 I wouldn't mind China getting our money, IF the fucking products were any good. They all suck. Have of the stuff they send here are TOXIC. Fucking chink bastids send us poisoned products. FUCK THE AMERICAN BUSINESSMAN!!!! FUCKING GREEDY COCK-SUCKING BASTIDS!! Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 3 minutes ago, ICEMAN! said: I saw roughly a drop per pound of 20 cents from the high in 2009 and then it slowly worked it’s way back up before this recent tariff spike. It’s still not quite where it was. So we are clear.....my preference would have been that China actually stuck to their promise to address their over capacity and for them to quit subsidizing their steal and dumping it illegally. Its obvious that didnt and wasnt going to happen. I support more or less for natural market cycles and functions dictating demand and price but sometimes significant action is needed to address nefarious economic actors. Trump is a big dumb hammer but everyone before him refused to even pick up the scalpel Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 16, 2018 Share Posted June 16, 2018 3 minutes ago, spin_dry said: It leaves cheap Chinese steel for the rest of the world to use. And it leaves us with a booming economy , rising wages , record low unemployment and real demand driving record GDP. Sorry that hurts you Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted June 16, 2018 Share Posted June 16, 2018 Scrap steel is over $140/ton. Has been rising for the past year. Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted June 16, 2018 Share Posted June 16, 2018 27 minutes ago, ICEMAN! said: China tariffs on U.S. soybeans could cost Iowa farmers up to $624 million https://amp.desmoinesregister.com/amp/705121002?__twitter_impression=true Now we are back to caring about farmers and their soybeans? Haven't heard a damn thing about it for a while, until now. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted June 16, 2018 Platinum Contributing Member Share Posted June 16, 2018 1 hour ago, ICEMAN! said: The article is right. The market started jacking prices on steel months ago. Then why didn't he bid his jobs accordingly? If it was months ago. Quote Link to comment Share on other sites More sharing options...
Anler Posted June 16, 2018 Share Posted June 16, 2018 1 hour ago, f7ben said: Funny what happens when you threaten the worlds supply of slave made government subsidized chinese garbage steel Bleeding heart liberals defending child slave labor and industry ruining communist commodity dumping. Complete retardation on full display. 1 Quote Link to comment Share on other sites More sharing options...
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