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We're Doomed: Trump To 'Save' Auto Industry

Trump heads to Ohio to announce that he will "save" the auto industry with tariffs that literally everyone says will do damage, not help.
We're Doomed: Trump To 'Save' Auto Industry
Image from: DonkeyHotey

Tiger Beat aka Politico:

“President Donald Trump heads to Ohio Wednesday embroiled in a fight with General Motors and the United Auto Workers over the closing of GM’s Lordstown plant. But his attempts to save manufacturing jobs have battered the auto industry and could erode his loyal base in the Midwest.

“Trump’s tariffs on steel and aluminum have cost Ford and GM about $1 billion each. GM Chief Executive Officer Mary Barra cited the tariffs in November when she announced the 14,000 job cuts that included the Lordstown plant’s shuttering. Potentially making things even worse, Trump is now weighing new tariffs on foreign automobiles that could threaten hundreds of thousands of additional U.S. jobs.”

Prznint McDeals is going to try his singular negotiating style (singular because it probably has only worked once) to save these jobs in Possum Hollar, in a swing state that he needs in 2020. Dawg only knows that prep work he’s done (none) and what deal sweetener he will bring to the meeting (none; he’s gonna wing it).

The problem is that Stupid has a no grasp of macroeconomics, let alone what his tariffs have done. The closing of the Lordstown plant is because GM has already lost more than $1 billion due to the Comrade Stupid’s trade war. The $1 billion loss is from the increased cost of aluminum and other raw materials that are imported by American automakers.

And he’s about to make it worse: read the last sentence in the quote.

Preznint Art of the Deal is gonna hurt American workers who build foreign cars in the US, and he is going to encourage retaliation against Ford, GM, Tesla, etc. when they try to sell their cars overseas. It’s the perfect shitestorm.

crossposted from Mock Paper Scissors

This is part of our continuing coverage of the 2020 elections.

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