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Trump's Bullshit Trade Tantrums

Trump’s Tariffs Could Weaken the GOP’s Grip on Congress

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Article talks a lot about Steve King. You can donate to his opponent, JD Scholten, here:

https://secure.actblue.com/donate/scholtenhome

Steve King's district is a long shot. Abby Finkenauer is running in IA-1, the district in the upper right part of Iowa, which Cook rates as a toss up:

https://www.abbyfinkenauer.com/

Cindy Axne is running for IA-4, which Cook rates as lean R:

https://cindyaxneforcongress.com/

I looked through almost all of the other districts and they are seriously some hard core Trumpy districts. I think the articles premise that this could lead to losses in those districts is a bit overblown.

I will add Lauren Underwood, who is just east of those Illinois districts:

https://www.underwoodforcongress.com/
 
Tariffs aren’t going to hurt Republicans in strong Republican districts. They see other countries as the aggressors by Trump. Republicans will be more hurt by not showing loyalty to Trump.
 
Every liberal tear is worth it.
 
https://www.wsj.com/articles/whirlp...-for-a-trade-war-1531757621?mod=hp_lista_pos2

CLYDE, Ohio—After the Trump administration announced new tariffs on imported washing machines in January, Marc Bitzer, the chief executive of Whirlpool Corp., celebrated his win over South Korean competitors LG Electronics Inc. 066570 3.14% and Samsung Electronics Co.

“This is, without any doubt, a positive catalyst for Whirlpool,” he said on an investor conference call.

Nearly six months later, the company’s share price is down 15%. One factor is a separate set of tariffs on steel and aluminum, imposed by the U.S. in March and later expanded, that helped drive up Whirlpool’s raw-materials costs. Net income, even with the added benefit of a lower tax bill, was down $64 million in the first quarter compared with a year earlier.

In his next call with investors, in April, Mr. Bitzer struck a cautious tone. “There continues to be uncertainty regarding potential future tariffs and trade actions,” he said. “We’ll continue to monitor, evaluate and take the right action for our business.”




Whirlpool had campaigned for protection from what it called unfair foreign competition. Things became more complicated as the trade conflict spread beyond its industry.

“Raw-material costs have risen substantially,” Mr. Bitzer said on the April investor call, primarily blaming steel and aluminum tariffs. Most of the 200-pound weight of a washing machine is in its steel and aluminum parts.
 
I'm a rep for a mechanical equipment manufacturer and I'm seeing it big time. We've had several pricing increases this year due to aluminum/steel prices and we haven't been able to hold a quote longer than 30 days and feel good about it. I'm hearing from contractors that pipe suppliers are holding < 30 days on their quotes.
 
harmoniousmonk said:
https://www.wsj.com/articles/whirlp...-for-a-trade-war-1531757621?mod=hp_lista_pos2

CLYDE, Ohio—After the Trump administration announced new tariffs on imported washing machines in January, Marc Bitzer, the chief executive of Whirlpool Corp., celebrated his win over South Korean competitors LG Electronics Inc. 066570 3.14% and Samsung Electronics Co.

“This is, without any doubt, a positive catalyst for Whirlpool,” he said on an investor conference call.

Nearly six months later, the company’s share price is down 15%. One factor is a separate set of tariffs on steel and aluminum, imposed by the U.S. in March and later expanded, that helped drive up Whirlpool’s raw-materials costs. Net income, even with the added benefit of a lower tax bill, was down $64 million in the first quarter compared with a year earlier.

In his next call with investors, in April, Mr. Bitzer struck a cautious tone. “There continues to be uncertainty regarding potential future tariffs and trade actions,” he said. “We’ll continue to monitor, evaluate and take the right action for our business.”




Whirlpool had campaigned for protection from what it called unfair foreign competition. Things became more complicated as the trade conflict spread beyond its industry.

“Raw-material costs have risen substantially,” Mr. Bitzer said on the April investor call, primarily blaming steel and aluminum tariffs. Most of the 200-pound weight of a washing machine is in its steel and aluminum parts.
Click to expand...

Just a completely worthless article. The gross margin has barely changed. There were $100 million more of restructuring costs in the 1Q of this year vs last year.

e5ff528bfadab6fc56f487883ad65f56.jpg
 
you know that stock prices are forward looking? I agree that it wasn't the catalyst of 1st quarter earnings decline although gross margin did decrease on increased volume.
 
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Article says the tariffs were announced in March and expanded thereafter so it’s likely the effect was not fully in place before the 3/31 numbers. 6/30 will probably be more instructive. Though they did lose 30-35mm Q1 based on compressed gross margin so it’s not totally insignificant.
 
ChrisL68 said:
you know that stock prices are forward looking? I agree that it wasn't the catalyst of 1st quarter earnings decline although gross margin did decrease on increased volume.
Click to expand...

Yes, but it's extremely #fakenewsish to reference the 1Q loss as if tariffs caused it.
 
The Yuan is down like 8% in 3 months, as China has just debased its currency to get around the tariffs. Read something the other day that said the biggest loser in all of this is going to be the EU, as the US and China are able to react around the tariffs.
 
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