Saturday, February 22, 2020

No wonder we're failing.

What part of “idiot” does Bloomberg News not get? We have a news item informing us that Trump’s import tariffs on steel do not protect the steel industry that gets so many things wrong you’d think it’s trying to sabotage his run for the White House.

It starts with “JSW Steel’s India-based parent company” reducing production at a Texas plant despite “tariffs of 25% on steel and 10% on aluminum imported to the U.S.” The article goes on to tell us some weeks ago a stupid and ignorant Fox newsman (Bloomberg didn’t use those adjectives) wondered if the tariffs might hurt the plant, “given that much of the raw steel processed at the mill was imported from India and Mexico.”

The plant manager’s reply boiled down to, “Of course not because we support Trump.” He was counting on an exemption on the tariffs, which he didn’t get because he’s importing the steel. (And now we're going to have the grits hit the fan because India is supporting Trump.)

Now, the Bloomberg article tells us, “A big piece of the Baytown project has been postponed indefinitely, in part because of Trump’s tariffs.” But mostly, of course, because the project was based on using imported steel, which is subject to the tariffs. Hello?

The article becomes less and less in contact with reality as it goes on. It tells us that the company’s manager claims that the company, “set out two years ago to do precisely what Trump and his trade hawks said the tariffs would help accomplish: reestablish the U.S. as a premier producer of steel.” And it’s going to do that by importing steel. What?

I don’t know what role Bloomberg plays with his newspaper, but having his name connected to this kind of gibberish does not get him my vote.


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