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I know more were lost in June. My company, in a tariff response, is moving US jobs out because none of our global customers want to pay said tariffs, so we're shrinking our us manufacturer operations and making other sites.
Edit: the tariffs to import the raw materials to actually make stuff is what costs my employer the most.
I work at a factory in Canada. We just got a huge contract from European customers and we've been told we're running more machines on 24/7 shifts to meet demand and hiring 50 new staff to do it. The clients switched from producing in the US to avoid costs associated with the trade war.
Putting tariffs on raw materials and natural resources you don't have domestically is possibly the dumbest thing a politician could do.
I think in most cases we do technically have them domestically, but we're rightfully unwilling to strip-mine ourselves and wreck the landscape to extract them. On the other hand, Trump, with his rapist mentality, is perfectly happy to force that to happen, will of the public be damned.
I have been working for and by myself as a machinist for the last 15 years. The first round of steel tariffs hurt a lot, but I was able to pull through just barely. Now, I am losing every contract I've got when they expire (which is soon) and as a small fish I have almost no bargaining power on bids for jobs. I am likely going to have to shutter the business and sell all the equipment.
Almost like that was part of the plan
Companies with warehouses and facilities in multiple countries are all sitting pretty. In fact some are expanding quickly
it's almost like Trump doesn't know what he's doing or something
He knows exactly what he’s doing. Stealing money. That’s it.
He'll now make 2 dozen phone calls and demand companies suck it up and hire more people at a loss
it's almost like Trump doesn't know what ~~he's doing~~ damage he's doing while stealing money or something*
He doesn't care. It's not a concern whatsoever.
He's proven that alright
His only motivator is greed because he wasn’t love by his dad.
If the smartest smerican doesn't know, who else?
Not Sure
U mean asking manufacturers to pay MORE to produce in America encourages them to move production to other countries? You’re kidding!
It's worse than that.
Let's say I want to open a widget factory in America because of the tariffs. Sure, I can avoid the tariffs on the widgets themselves by making them here, but there's a big problem...
What about the tariffs on the materials needed to make them?
So Trump wants to strong-arm a minerals deal with some country via a protection racket only to... tariff them?
Jesus Christ.
Unironically, depending on how the supply chain is arranged for your industry, it may actually be cheaper to move your manufacturing off shore and eat the tariff once instead of getting nickeled and dimed for every single item you need to assemble on shore. Hell, Vietnam already figured out you can ship Chinese products through to America as grey imports and skim off the top.
It is hard for me to articulate just how fucking stupid all of this is. It's no small wonder how this guy bankrupted six casinos.
But hey, Art of the Deal, baby.
It is hard for me to articulate just how fucking stupid all of this is. It's no small wonder how this guy bankrupted six casinos.
I always assumed they were bankrupted on purpose as part of some sort of money laundering scheme, but you're bringing me around to the idea that it may actually have been sheer stupidity rather than crime.
This is exactly what some of the biggest manufacturers of cars in America are thinking of doing. They manufacture in America but a lot of the parts are imported and would cost them a fortune to import. It's cheaper to move factories to China, build the full part, and then ship it over because the tarrifs are higher on the individual tech parts inside the assembly than a finished product using those parts.
Unironically, depending on how the supply chain is arranged for your industry, it may actually be cheaper to move your manufacturing off shore and eat the tariff once instead of getting nickeled and dimed for every single item you need to assemble on shore.
And that's not even accounting for forecasting, which is still necessary in the stupid-frail JIT approach. Noone will want to sign a long-term supply contract when they could get screwed by sudden tarrifs and the JIT people have to rely on luck to avoid subjecting customers to sticker-price whiplash.
It's all just so fucking stupid.
Edit: Not sure what my auto-correct meant there. To be clear I was intending to state that JIT logistics is stupidly frail because it is unable to smooth out uncertainties in supply chains and a single distribution or price swing in a necessary component can result in the material costs of the product going so high that the business either has to sell at unpredictable prices, eat the difference, or set the base price higher and pocket the difference when favorable.
Industrial capital spending has never, ever been as low as it is right now, even during Covid. It's pretty much zero, because nobody has any intention of investing in any sort of industrial infrastructure in a complete clusterfuck of economic and trade policy. The chicken hasn't come close to roosting yet, give it another few months and watch the bloodbath.
I'm waiting for the beginning of July for the end of the tariff pause. Dow Jones will probably shed a few thousand points before Trump reacts by pausing them again or repealing them since he always chickens out. \
If Trump is going to wreck the fucking economy with his idiocy I might as well take a shot at profiting from it like all of the grifters in his administration.
They also gorged themselves on basically zero percent lending, used it for things along the lines of stock buybacks and now their equipment/supply chain is failing. Low corporate taxes mean there's no incentive to reinvest, certainly not upping wages.
Capitalism is a cancer that's running out of healthy cells.
And industrial capital takes a long time to realize. Speaking as an industrial engineer who's been involved in the process, it's a pain in the ass amount of time between us getting called in and floor workers getting called in. Once factories shutter it'll be years before theyre back online. And I don't see it happening under Trump.
How are you finding it for supply line on equipment for the floor, or do you see any of that side of the process? Because as far as I know, most of the machinery is not making it's way into the country from China and Europe because of tariffs, so even if you put up a building, you wouldn't be able to outfit it. If it is getting in, it's going to be prohibitively expensive to outfit a line.
Looks like they may need to destroy a few more government agencies that collect and distribute labor statistics. That will solve it.
Small businesses come and go, but lately I have seen a shit ton of small businesses disappear.
Every policy makes winners and losers. The current administrations policies are making a lot more losers than winners to enrich themselves. It is pure unfettered corruption.
A 2021 study by Oxford Economics and the U.S.-China Business Council concluded that the United States lost 245,000 jobs as a result of the Trump tariffs.
They're going to study these tariffs and detail how they fucked America and by the time Republicans do something similar nobody will ever, EVER, bring this up again.
And this is also not helping:
jfc, ICE looks like school yard bully gravy seals
That's cause they used to be, I mean they still are, but they used to be as well.
Anyway so I've noticed how the freeways are clear sooner than usual after 5pm. They're still long, but sooner means less people in the rat race trying to get home from work.
There was a study or survey or something that showed people are leaving the office earlier than they did before the pandemic, the average being between 3 and 4 pm.
100% true for me
Same here. The pandemic showed me a couple of things very clearly:
- humans make a shit tom of noise.
Yeah that's what I really meant. Cars, planes and large machinery. When all that stopped for the couple of years...days sometimes weeks at a time, everything was eerily silent.
That sounds nice. Where I was at the time was close enough to a baptist church that I couldn't escape their speakers blaring doomsday baptist sermons and gospel music. All day. Every day. For the entire time that churches weren't allowed to meet inside.
Oh that's hilarious. We used to live near a Jehovah's temple or whatever they call it. That literally stopped going house to house for a while.
Scrambles to do what? Buy or sell?
Just scrambles in place, like eggs.
Wasn't the alleged purpose of tariffs to bring manufacturing goods to America?