The Simpletons......

[SnowRider]

Might understand....

 

The CEO of an American boat manufacturer perfectly laid out how Trump's tariffs are crushing US businesses

Bob Bryan

 

President Donald Trump walks past a boat while touring a Made in America product showcase at the White House Chip Somodevilla/Getty Images 

• President Donald Trump's tariffs have put US businesses in the crosshairs of a trade war.
• Bill Yeargin, the CEO of US boat manufacturer Correct Craft, warned about the consequences of Trump's trade fights in an op-ed on Monday.
• "We have found ourselves in the crosshairs of a trade war, one that will drown out the effects of tax reform and risk our industry's promising future, taking American workers and consumers down with it," Yeargin wrote.
• The CEO also laid out the three big reasons that Trump's tariffs hurt US businesses.

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President Donald Trump's tariffs are hitting US businesses with a triple whammy, according to one manufacturing CEO. 

Bill Yeargin, the CEO of US boat manufacturer Correct Craft, laid out in an op-ed for the Washington Examiner how harmful Trump's recent tariffs are for both his own company and the US economy as a whole. 

Yeargin's firm builds a slew of popular boat brands, such as the specialty ski brand Nautique. Correct Craft employs more than 1,300 American workers and has six manufacturing plants around the US, but despite the homegrown nature of the business, Trump's tariffs are taking a toll. 

The Correct Craft CEO said Trump's trade fights are leading to higher costs and threaten boat sales. In fact, Yeargin said the tariffs pose an existential threat to the US boat manufacturing industry. 

"We have found ourselves in the crosshairs of a trade war, one that will drown out the effects of tax reform and risk our industry's promising future, taking American workers and consumers down with it," he wrote. 

In laying out the threat the trade war poses, Yeargin identified the three ways that Trump's trade fights are contributing to pain for US manufacturers: 

1. Tariffs caused the price of imported parts to increase: Tariffs act as taxes on imports, which in turn cause the prices of the goods hit with those taxes to increase. Trump slapped both Chinese aluminum sheet and all aluminum, two important elements for boat manufacturing, with substantial tariffs. Additionally, Trump's tariffs on Chinese goods added an extra duty to pieces of boat engines, and the next wave of tariffs could hit "300 different component parts used by the marine industry." So Correct Crafts costs are increasing, cutting into profits. 
2. The prices of US goods are also increasing due to market distortions:Correct Craft sources nearly all of the aluminum sheet used in its boats from the US — more than 90% according to Yeargin — but this has not protected the company from price increases. As domestic producers have seen foreign prices rise, so too have US aluminum producers used this new pricing power. According to Yeargin, the price of domestic aluminum has risen by 20% to 30% due to market distortions created by the tariffs. 
3. Retaliatory tariffs on US exports are hurting American companies that send goods abroad: Yeargin said that retaliatory tariffs on boats by Canada, Mexico, and the European Union — which represent a large portion of the firm's overseas sales — will harm sales and "puts the industry's $1.8 billion in recreational boat and engine exports and the jobs of Americans in jeopardy." 

Yeargin says Trump's trade policies will come back to bite the US 

Correct Craft can respond to combination of these three factors in a few different ways. The company can lay off workers to bring down labor costs, increase prices on consumers, or move its manufacturing outside of the US to a country not facing tariffs (similar to Harley-Davidson's decision). 

Given these worrying options Correct Craft faces, Yeargin concluded that Trump's trade policies will ultimately come back to bite the US.

"Many Americans are understandably tired of longstanding and unfair trade agreements, and President Trump should be applauded for concentrating the world's attention on the issue," the Correct Craft CEO wrote. "However, his administration's current trade policies of increasing protectionism are unfairly targeting US manufacturing industries, and will cause lasting damage to US businesses, jobs, and families."

The problems aren't just limited to boat manufacturers. American firms that produce everything from TVs to nails to lobster traps are dealing with similar cost pressures. 

The cost increases are already forcing these firms to make tough choices. Some US businesses have had to lay off workers, while others are raising prices on consumers to handle the hit. 

Regardless of how these companies are managing, it's clear that Trump's trade fights are taking a toll on American business.

https://www.businessinsider.com/trump-tariff-trade-war-hurting-us-business-says-bill-yeargin-correct-craft-ceo-2018-8?yptr=yahoo

 

[Rigid1]

[Dave]

Must be hurting the lightbulb business too....

[Kivalo]

And the most ironic thread title of the year award goes to.....

[racer254]

All one has to do is look at the constant degradation of anyone who did not vote for hillary in the last election to understand what the left has to offer.

Just read some of the threads.  Even people that really don't care for trump get labeled as "trump supporter" by these people.   Good luck with that.  Keep up the good work.  Rather than trying to win people over to their side with new or better ideas, they try and shame them into it.  It is pretty disgraceful when you really think about it, but that's a great sign of desperation.

[Snoslinger]

Anyone care to address the topic?

[Dave]

Just now, Snoslinger said:

Anyone care to address the topic?

Yes....you are a simpleton.

[hayward]

What is Bill Yeargin's CEO salary/year?

[Snoslinger]

6 minutes ago, hayward said:

What is Bill Yeargin's CEO salary/year?

Better be careful. You don’t want to sound like a liberal. I’m sure he makes a lot, like most other ceos but that isn’t really addressing the topic  

[Dave]

7 minutes ago, hayward said:

What is Bill Yeargin's CEO salary/year?

Wrong question!!!!!

[hayward]

2 minutes ago, Snoslinger said:

Better be careful. You don’t want to sound like a liberal. I’m sure he makes a lot, like most other ceos but that isn’t really addressing the topic  

A liberal?  For asking what a CEO makes/year?  A CEO who is worried about his company's future?  You know what I do in tough times to stay in business, with the ultimate goal of staying in business for the future?  I spend less, both on personal and business expenses.  In other words, I take less pay, with the intentions and hopes of things getting better and returning me back.  Can you imagine that?    Does that make me a liberal?

Who was the glass manufacturing company up your way whom was in financial trouble a couple of years ago where all it's employees got together and decided to work a while for NO PAY to try and get it back on their feet?  If it wasn't up by you guys, it might have been further up into New England.  I often wonder how they made out.  Very noble gesture.

[Rigid1]

2 minutes ago, hayward said:

A liberal?  For asking what a CEO makes/year?  A CEO who is worried about his company's future?  You know what I do in tough times to stay in business, with the ultimate goal of staying in business for the future?  I spend less, both on personal and business expenses.  In other words, I take less pay, with the intentions and hopes of things getting better and returning me back.  Can you imagine that?    Does that make me a liberal?

Who was the glass manufacturing company up your way whom was in financial trouble a couple of years ago where all it's employees got together and decided to work a while for NO PAY to try and get it back on their feet?  If it wasn't up by you guys, it might have been further up into New England.  I often wonder how they made out.  Very noble gesture.

Corning?

[hayward]

1 minute ago, Rigid1 said:

Corning?

I didn't think it was Corning.  A smaller place maybe.  Can't remember.  They were never in trouble, were they?

[Snoslinger]

4 minutes ago, hayward said:

A liberal?  For asking what a CEO makes/year?  A CEO who is worried about his company's future?  You know what I do in tough times to stay in business, with the ultimate goal of staying in business for the future?  I spend less, both on personal and business expenses.  In other words, I take less pay, with the intentions and hopes of things getting better and returning me back.  Can you imagine that?    Does that make me a liberal?

Who was the glass manufacturing company up your way whom was in financial trouble a couple of years ago where all it's employees got together and decided to work a while for NO PAY to try and get it back on their feet?  If it wasn't up by you guys, it might have been further up into New England.  I often wonder how they made out.  Very noble gesture.

Well last I checked repukes thought ceos are worth every penny as they have a lot of responsibility. But way to miss the point of the article. We are supposed to be in outstanding economic times and you’re adovoxwting the ceo and employees take wage cuts, because of the bullshit trump is pulling? Lmfao

 

[Rigid1]

Just now, hayward said:

I didn't think it was Corning.  A smaller place maybe.  Can't remember.  They were never in trouble, were they?

I think Corning struggled a bit more than a decade ago,, There was Oneida, but they did end up closing, Camilus Cutlery, closed,..the list goes on and on in NYS..But hey, you can buy NYS honey at a Thruway rest stop..thanks Cuomo, you fucking ass hat

[Snoslinger]

4 minutes ago, hayward said:

I didn't think it was Corning.  A smaller place maybe.  Can't remember.  They were never in trouble, were they?

Was it a place that made China?

[Snoslinger]

Just now, Rigid1 said:

But hey, you can buy NYS honey at a Thruway rest stop..thanks Cuomo, you fucking ass hat

 

[hayward]

4 minutes ago, Snoslinger said:

Well last I checked repukes thought ceos are worth every penny as they have a lot of responsibility. But way to miss the point of the article. We are supposed to be in outstanding economic times and you’re adovoxwting the ceo and employees take wage cuts, because of the bullshit trump is pulling? Lmfao

 

An overpaid CEO = An overpaid superintendant of a public school

liberal of repuke I don't give a shit, that's where I stand

[hayward]

4 minutes ago, Snoslinger said:

Was it a place that made China?

I was pretty sure it was glass.  It was on ABC nightly  news a couple of years ago.

[hayward]

7 minutes ago, Snoslinger said:

Well last I checked repukes thought ceos are worth every penny as they have a lot of responsibility. But way to miss the point of the article. We are supposed to be in outstanding economic times and you’re adovoxwting the ceo and employees take wage cuts, because of the bullshit trump is pulling? Lmfao

 

Every business is different.  Just because some thrive at times others may not.  Are you invested in your business/job for the long haul or do you not give a shit if it closes it's doors tomorrow because after all, then you'd have something and someone to blame it on, right?  I'd rather stick it out and make a go of it if I think there's a chance things could turn around in the future and get back on track.  

I'll address the article.  I think Trumps moves are having some temporary downturns, but it's neccissary.  You some times move backwards before being able to go forwards, and I think that's the stage we're in right now.  For once, i'm trying not to be a pessimist.  

[f7ben]

43 minutes ago, Snoslinger said:

Anyone care to address the topic?

The tariffs will hurt other countries far worse. They are a last resort to change our trade partners predatory behaviour. They will work and the US will be better for it. The only people opposed to them are companies who relied on cheap imports to make their goods and those targeted by other countries resisting a fair playing field. 

China is the worst offender and this was the only way to deal with them.

The end

[F3600]

I guess that new Nautique is going to cost $150,000 now.  The folks buying them new don’t seem to mind.  

[revkevsdi]

5 minutes ago, F3600 said:

I guess that new Nautique is going to cost $150,000 now.  The folks buying them new don’t seem to mind.  

I Have to agree.  If Natique is seeing an issue with the increases from tarrifs. That’s a problem. Their customers should be the ones who are benefitting from the tax cuts. 

[racer254]

29 minutes ago, Snoslinger said:

Well last I checked repukes thought ceos are worth every penny as they have a lot of responsibility. But way to miss the point of the article. We are supposed to be in outstanding economic times and you’re adovoxwting the ceo and employees take wage cuts, because of the bullshit trump is pulling? Lmfao

 

That's why most here think you are an idiot.

[steve from amherst]

I thought ski nautique's had ford motors. What engine parts are made in China? A couple electrical items are not going to increase the cost anymore then the manufacturers employee health insurance would, if even close to that.