PeterS

GM knows what tariffs mean. Too bad our president doesn't understand basic economic principles...

http://fortune.com/2018/06/29/gm-warns-trump-administration-tariffs-lead-lost-jobs-lower-wages/

Add General Motors to the list of American companies that are expressing concern about the impact that trade tariffs could have on their long-term business prospects.

The U.S. automaker warned that an escalating trade war could backfire and lead to “less investment, fewer jobs and lower wages.” GM expressed its concerns in comments that it submitted to the Commerce Department on Friday.

Last month, the Trump administration said it was considering imposing a 25% tariff on imported cars. The administration has indicated that tariffs on autos, steel, and other products are in the interest of national security. Some analysts suggested the car tariffs are intended to pressure Mexico into renegotiating the NAFTA trade pact.

On Monday, Harley-Davidson announced it would move production of its Europe-bound vehicles offshore after the E.U. imposed a 31% tariff on its motorbikes. That same day, the largest nail manufacturer in the U.S. laid off 60 workers and warned it could lay off hundreds more because of a 25% tariff the U.S. had imposed on steel imports.

teabag09

I suppose they'd like to be bailed out again??? Mike

PeterS

I don't think they do which is why they are speaking out now instead of later...

PeterS

And I have to say: it didn't occur to me that anyone would use GM's near bankruptcy against them in this topic. I mean that was a fully different company structure and this one has succeeded almost each day since the bailout. Are you saying that because they were bailed out that what they are saying isn't true? I was just having a conversation with Mwdegutis about his constant need to use fallacies to make an argument destroys every argument that he is trying to make and here the first comment by a conservative you use an ad hominem in order to disqualify the author instead of addressing the argument being made by him--that being that Trumps tariffs will likely cause GM to lower wages and cut employment. I can only assume you have no argument against the thesis topic or you think you can deflect from the topic and talk about the past failure of GM instead of what current management, a management that is turning a profit.

Wh**ever your attempt it's a wonderful example of how conservatives can only make an argument via a logical fallacy. I want to thank you Mike and I hope you don't mind that I use your remark for a future article on how conservatives have built their world out of logical fallacies...