“When you look at the sectors of the economy that were supposed to benefit from Trump’s economic policies, however, the news gets significantly worse. The manufacturing sector lost 12,000 jobs during the month of August and 78,000 over the past year, according to the data released Thursday by the Department of Labor.
Over the past three months, during which Trump’s tariffs have been in full swing, the manufacturing sector is down 31,000 jobs. Other blue-collar sectors like construction and mining are down over that same period.
All three sectors figure to have been negatively affected by Trump’s tariffs, which (contrary to the administration’s claims) have hit American businesses with huge new taxes on parts, raw materials, equipment, and more. Like with any big tax increase, one way businesses can offset those costs is by hiring fewer people or postponing new investments and expansion. That’s exactly what manufacturing firms say they have been doing.”
Korean companies invest billions in the U.S., can’t get appropriate visas due to the U.S.’s crappy system, and the skilled people brought over to help make these investments are rounded up like criminals.
You can’t demand Korea invest in the U.S., not have the human capital to support those investments, not have the visa system to get that capital imported legally, and then get mad when in order to fulfill the investment demands the Korean companies don’t get their skilled workers properly documented.
Trump seems to recognize that it’s a problem, yet he did nothing to fix it while leading the charge on an incredibly expensive mass deportation operation while also demanding foreign countries invest in the U.S..
Trump has 33 tech leaders over, and they all suck his dick like he’s a vain dictator.
What’s the point to gaining that much power and wealth if they are just going to bend over for a vain, capricious, and rule-breaking ruler?
Jobs numbers aren’t good, indicating a weak economy. Especially young people are having trouble getting jobs, indicating companies aren’t ready to expand with inexperienced people given the economic and political uncertainty. Of course, the economic uncertainty is mostly driven by bad White House policy.
Manufacturing jobs are down. Manufacturing business leaders say tariffs are the cause of less manufacturing jobs. They can’t plan with the tariff created uncertainty. Trump’s tariffs are weakening manufacturing, not strengthening it.
Most job growth was in education, healthcare, and government, meaning sectors that often don’t reflect economic growth.
Trump’s big beautiful bill takes away money from growing renewable energy that employs more jobs than coal and toward dying coal. It’s not just bad for the environment, it’s bad business. The bill makes it difficult to use components from China, even though China is one of our key suppliers. This will limit U.S. production.
The bill expands fossil fuel subsidies. Subsidies are essentially giving money to companies. This should be done when certain industries are important to emphasize above and beyond the incentive for profit-making, like environmental benefits. Considering fossil fuels cause deadly air pollution as well as contribute to global warming, subsidizing them makes no sense.
Fossil fuel industries are already built out, so subsidies pay such companies for doing stuff that they were doing anyways. Renewable industries are still developing and growing, so subsidies actually create new business. Once you consider the environmental impacts, fossil fuel subsidies net a negative return.
Trump’s bill has led to a lot of fired scientists. Foreign countries are offering bonuses to hire these scientists. These nonsense policies are producing American brain drain.
“With a series of short-sighted tariff maneuvers, the president has effectively told Toyota (and other Japanese carmakers) that it should do more of its manufacturing in Japan and stop trying to create jobs in America.
Earlier this week, President Donald Trump announced a new trade deal with Japan that will include a 15 percent tariff on Japanese goods, including imported cars. The details of the deal remain somewhat vague, but that’s a significant discount compared to the 25 percent tariff the administration has imposed on cars imported from everywhere else.
The reduced tariffs for Japanese cars are significant because of how that provision interacts with the Trump administration’s other trade policies that are aimed at making it more expensive to manufacture cars in the United States. The president has imposed a 50 percent tariff on steel and aluminum (both of which are essential for automakers) and has slapped a 25 percent tariff on imported cars and car parts. Those tariffs are already dinging the profits of American carmakers—General Motors reportedly lost more than $1 billion in the second quarter of the year—and auto industry experts say they will raise prices, reduce demand for new cars, and generally make American cars less globally competitive.
In short, the Trump administration is offering an incentive to import finished cars from Japan, while making it more expensive to buy the stuff you need to build cars in America.
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Ultimately, the problem here is not the specific tariff rates the Trump administration is seeking to charge on steel, car parts, or cars imported from Japan or Mexico. (Those rates are likely to change anyway, if the past few months of the trade war are any indication.)
No, the real problem here is the Trump administration’s belief that it can use tariffs to shape the global trading system toward contradicting goals with no tradeoffs or distortions. In reality, each new tariff move causes both. The market responds to incentives, and right now, the Trump administration is creating a set of incentives that will raise costs for American manufacturers while driving investors overseas.”
The Japanese trade deal is actually bad for U.S. car companies. Cars manufactured in Japan will have a 15% tariff on them, but cars made in Mexico by U.S. companies will have a 25% tariff, giving U.S. companies a disadvantage. They could move that back to the U.S., but the move itself is costly, and the cost to make the cars in the U.S. is even costlier.
“As CEO of Plattco Corporation, a small business that makes industrial valves, Derrigo-Barnes runs the sort of blue-collar industrial production shop that Trump and his allies say they want to help. Instead of being helped, she found herself dealing with fallout from the tariff announcement: canceled orders, higher prices, and enough uncertainty to put on hold a planned expansion of the company’s Plattsburgh, New York, manufacturing center on the banks of Lake Champlain.
What would she tell Trump if she got the chance? “Stop the nonsense. We’ve worked hard to get us to a place where we can perform well and we can take care of our customers, and this is putting that in jeopardy.””