🚨UNREAL: The President of the steel company Trump visits thanks him profusely for tariffs because it allows him to jack up the price of his racks from $90 to $150. He is thanking Trump for making Americans pay more for steel. You cannot make it up.
https://v.redd.it/7izry4xzulkg1
Posted by TianamenHomer
4 Comments
The flawed theory is that it is supposed to protect domestic manufacturing and increase jobs due to their increased business.
With the legal OBLIGATION to maximize profits for shareholders…. This isn’t even possible. All pricing maximized. Consumers pay more, inflation, layoffs, less jobs, more poverty – less tax revenue.
He’s saying volume is way up cause China can’t undercut so more jobs, more money staying in America. Not saying a price increase is good, but it’s clearly an economic shock not gouging. It would come down over time as more US steel companies enter the market to replace China. It’s long term play.
This keeps popping up and people keep leaving out the nuance here. He said HIS COST to PRODUCE is $150. Now he could be lying, I don’t know. But this does not indicate that he’s just raising prices for more margin.
This comment is in no way defending this bozo or Trump. But lets not be like the GOP and lie and skew words to make a point. We’re better than that.
Actually watch the video. Not at all what’s going on.