The latest news on how Comrade Trump’s metal tariffs are Making America Great Again!
- Alcoa, the biggest producer of aluminum in the U.S., says it’s taken a $15 million hit in costs on material mostly imported from Canada
- Daimler AG cut its profit outlook over trade tensions
- Wall Street analysts expect Ford Motor to follow suit
- General Motors cut its profit forecast on Wednesday, citing the rising price of metals
- Harley-Davidson says its operating profit margin will fall between 9 and 10 percent in 2018 from the expected impact of the metal tariffs. Also: they will move some production overseas due to the E.U.’s retaliatory tariffs.
- Whirlpool reported that “rising raw-materials costs hurt results in three out of four of its regional markets in the second quarter”
And just for shits and giggles we note:
Trump Tax Cut Is Pushing the Federal Deficit to $1 Trillion
But on the bright side, many hectares of beets, comrades. Best harvest!