The Mad Hungarian Posted November 10, 2003 Report Share Posted November 10, 2003 Clock is ticking. . ?. DJ EU/Steel Row -2: Take Effect In 35 Days Unless US Acts ? . . .In an interview with Dow Jones Newswires, Crapvision and the Wall Street Journal, Lamy said the sanctions on U.S. goods would go into effect in 35 days unless Washington withdraws its steel tarriffs. That is definitely a VERY SHORT FUSE in the context of trade issues, which often involve months or years of maneuvering (which is already behind us in this case). The harsher the U.S. reaction, the uglier the market slide that follows. Pool operators are supposed to keep a seamless facade, don't they know that? machinehead, According to ISI's Washington pundits, their feeling is that Bush will drop most or all of the steel tariffs, probably announcing it after Congress adjourns the week before Thanksgiving, FWIW. Although the ISI report also said that there were a number of pro-tariff rallies held on Friday in 8 states, many of them election "swing" states (Pennsylvania, Ohio, Michigan and Illinois). Link to comment Share on other sites More sharing options...
machinehead Posted November 10, 2003 Report Share Posted November 10, 2003 According to ISI's Washington pundits, their feeling is that Bush will drop most or all of the steel tariffs, probably announcing it after Congress adjourns the week before Thanksgiving, FWIW. Although the ISI report also said that there were a number of pro-tariff rallies held on Friday in 8 states, many of them election "swing" states (Pennsylvania, Ohio, Michigan and Illinois). It's a balancing act. The steel quotas were adopted originally to head off protectionist legislation in Congress. POTUS is caught in the middle here. If he defies the WTO, Europe goes ballastic. If he complies, Congress may go ballastic. Worst case, Congress whips up a toxic mixture of "steel tariffs" and "China tariffs" and pokes all the foreigners (yes, the ones who buy the T-bones) in the eye with a stick at the same time ... Link to comment Share on other sites More sharing options...
FeedFool Posted November 10, 2003 Report Share Posted November 10, 2003 According to ISI's Washington pundits, their feeling is that Bush will drop most or all of the steel tariffs, probably announcing it after Congress adjourns the week before Thanksgiving, FWIW. Although the ISI report also said that there were a number of pro-tariff rallies held on Friday in 8 states, many of them election "swing" states (Pennsylvania, Ohio, Michigan and Illinois). It's a balancing act. The steel quotas were adopted originally to head off protectionist legislation in Congress. POTUS is caught in the middle here. If he defies the WTO, Europe goes ballastic. If he complies, Congress may go ballastic. Worst case, Congress whips up a toxic mixture of "steel tariffs" and "China tariffs" and pokes all the foreigners (yes, the ones who buy the T-bones) in the eye with a stick at the same time ... It wouldn?t surprise me those guys have no clue. Link to comment Share on other sites More sharing options...
BAREister Posted November 10, 2003 Report Share Posted November 10, 2003 Tariffs are a crutch. maybe a necessary one. HRFF's mother's family was in the steel biz. FUR decades, a century, nearly, it prospered. Then people grew fat, and lazy, and complacent. HRFF's parents' generation, primarily. They were, mostly, content to clip coupons, and ride the long post-WWII boom in the economy, which lulled them into an enervating lASS(_)_)itude, and prosperous cities like Pittsburgh, Wheeling, Steubenville and Youngstown went into a slow, and inexorable decline, which, thus FUR, shows no sign of ameliorating. They failed to modernize. Labor and management (still) despise(d) one anUDDER, a recipie FUR disASSter in the face of mounting global competition. Profits were siphoned off and squandered. Labor kept demanding, and getting, more and more and more. Faster, leaner, harder, smarter, more thoroughly modernized FUReign competitors have, in the past 20 years, cleaned the clock of America's steel sector. Of course, udder huge sectors of our economy, like, say, half the agricultural base of the nation, can't survive without mASSive federal aid. We're all addicts one way or anUDDER. Steel is just going into withdrawal. Tariffs aren't the methadone the people in these adversity-beset towns think they are. TwoScrews is right. We're on the brink of a major trade war. Clinton and his buddies' ASS(_)_)iduous? efFURts are about to be unwound, PDQ. Barring a worldwide economic miracle (read 'recovery') that is. Link to comment Share on other sites More sharing options...
machinehead Posted November 11, 2003 Report Share Posted November 11, 2003 A sensationalist article in the U.K. Independent screaming "trade war" was picked up by Drudge this morning. Just goes to show how media shills put fearmongering ahead of balance. The New York Post seems to have got a more accurate handle on where we go from here: anal cysts say the Bush administration, which had promised to protect steelworkers, will repeal the tariffs - if not for economic reasons, then political ones. "Bush wanted to get rid of this," said Charles Bradford, a steel industry anal cyst with Bradford Research. "It's politically easier if the WTO does it for him." The article goes on to suggest that a big wave of steel industry consolidation is coming, which sounds exactly right ... the standard Matrix agenda. Layoffs ahead! Link to comment Share on other sites More sharing options...
Bird D Durr Posted November 14, 2003 Report Share Posted November 14, 2003 I as make my plans to move out of PGH..................... I can only think of "what used to have been"...............as a peruse vacant, rat-filled lots.......................... Steel is dead..................Now, Then...................Forever.................... Link to comment Share on other sites More sharing options...
Bird D Durr Posted November 25, 2003 Report Share Posted November 25, 2003 THE CITY OF PITTSBURGH, PA.................. Might not be as flamboyant as San Fran or NYC........................ But votes justs as liberal...........with a huge leftist bent................. No republican has won PA since The Gipper.......................... Pgh, PA is still run by the same Archie Bunker Types that believe high school drop-outs are ENTITLED to $90K Union Jobs with full benefits...............There's no dialogue with these people..............Most can't add........or read..............They are hopeless........Sub 80 IQ Dolts................. The City is $42M in the hole in '03..........................And scheduled to be $65M in the hole in '04 Every young person (barring the lucky few), who's educated, plans to leave or will.............. The City, of any major metropolitan area, has the lowest % of 25-35 yr. olds........................... Sadly barring Dade County in FL....................Allegheny County has the 2nd highest elderly pop per capita................ Such grannies..............still wonder why Junior can't find a $90K Union Job, with full benefits, out of high school that he/she is ENTITLED to......................... Come 3/15/04...............Pittsburgh Bird, Esq............................ Becomes Las Vegas Bird, Esq...................................... Link to comment Share on other sites More sharing options...
tandr Posted December 1, 2003 Report Share Posted December 1, 2003 as per newsru.com with reference to Monday's Washington Post, steel tariffs are gone. http://www.newsru.com/finance/01dec2003/still.html (in Russian, uses google or babelfish to translate) t. Link to comment Share on other sites More sharing options...
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