r/neoliberal • u/Saltedline Hu Shih • Dec 03 '24

Trump vows to block Nippon Steel's planned purchase of US Steel News (Asia)

https://mainichi.jp/english/articles/20241203/p2g/00m/0bu/020000c

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102

u/brucebananaray YIMBY Dec 03 '24

So the jobs in those towns and cities will be gone because Trump is petty and America first.

Hey, I don't feel sad about those workers losing their jobs because they voted for this moron.

69

u/eta_carinae_311 Dec 03 '24

The Daily episode today was about Trump's previous round of tariffs. The steel tariffs DID work in the sense that American steel production rose.

But the industries that use steel, like automakers, produced less because it was more expensive.

So while there was a bump for one industry (steel), the overall economy lost.

12

u/goldenCapitalist NATO Dec 03 '24

Tariffs are privatized gains for socialized losses. Making things more expensive for everyone to bolster the domestic industry of a select few. We see this in agriculture products today, and now steel.

1

u/Aidan_Welch Zhao Ziyang Dec 03 '24

This is almost everything in a democracy though, there are some people who benefit a lot from something so they lobby for it, and a lot of people who have marginal (and sometimes not so marginal) cost for them individually.