Jeff Ferry of A Coalition for a Prosperous America – Mon 13 Aug, 2018

We discuss tariffs with Jeff Ferry of The Coalition for a Prosperous America

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I still say that our President is a bad communicator says Big Al

 

For Immediate Release
August 13, 2018
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CPA Tallies Jobs Created by Tariffs

More Than 11,100 Good Jobs Created Since February

Washington. The Coalition for a Prosperous America (CPA), has determined that at least 11,100 new jobs have been created since February 1 as a result of the protective tariffs imposed on imported solar panels, washing machines, steel, and aluminum. The finding arises from the initial results of CPA’s “Tariff Job Creation Tracker” (TJCT), which monitors the jobs created as a result of the administration’s tariff actions. The tally is conservative because the numbers include only those positions where companies have publicly announced new or planned job counts.

CPA Chair Dan DiMicco said, “President Trump’s safeguard actions are working well, and are already having a direct effect on US manufacturing. We’re very pleased to see the results that come from enforcing America’s trade laws, and we expect more high-paying jobs to keep coming online.”

The TJCT was compiled by the CPA research team led by economist Jeff Ferry. Dozens of individual company announcements show a steady stream of new jobs in affected industries, trends also supported by the government BLS data, said Ferry.

“The national media is generally ignoring the job creation arising from the country’s new strategic trade posture. This information is important. These jobs will have substantial positive effects on local economies and the national US economy,” said Ferry. “They are in general well-paid manufacturing jobs in high-productivity businesses. Those new jobs will contribute to the creation of thousands of service sector jobs and they will stimulate local economies.”

In January, the president announced section 201 safeguard tariffs on imported washing machines as well as solar panels and cells, which went into effect in March. In March, President Trump announced section 232 national security tariffs on surging imports of subsidized steel and aluminum which went into effect June 1. The president is also imposing section 301 tariffs on $50 billion worth of Chinese goods produced via intellectual property theft, forced technology transfer, and cyber-attacks. However, CPA’s job creation numbers do not yet include the impact from those 301 tariffs.

Michael Stumo, CEO of the CPA, praised the tariffs as an important step toward rebuilding US industrial capacity. “We’ve long recognized the direct connection between manufacturing strength and a vibrant middle class,” said Stumo. “Recent administrations simply acquiesced to a quarter-century of predatory trade from China. It’s past time to take action, and it’s gratifying to see how quickly manufacturing is coming back to the US now that we are implementing the beginnings of a national trade strategy.

The TCJT shows a tally of 11,100 manufacturing jobs created, including notable increases in both domestic steel and aluminum production. Over the past six months, 4,960 new steel jobs have been created or announced across the US, with another 2,899 jobs in the aluminum industry.

Stumo adds that the longer term impacts of the administration’s tariff measures, particularly for emerging industries like solar panels, will mean further job creation. “This is just the beginning. With a second tranche of tariffs being announced on 279 additional lines of Chinese imports, we expect to see more job creation in the months ahead for a broader range of affected industries.”

About CPA: The Coalition for a Prosperous America is the nation’s premier organization working on the intersection of trade, jobs, tax, and economic growth. We represent the interests of 4.1 million households through our agricultural, manufacturing, and labor members.

Paola Masman
http://www.prosperousamerica.org/


Featuring:
Jeff FerryAl Korelin

Comments:
  1. On August 13, 2018 at 6:29 pm,
    CFS says:

    I have been listening to President Trump as he has been travelling around supporting candidates for the upcoming election.
    He has repeatedly said he wants fair trade and he wants zero tariffs.
    The problem arises when the US has zero tariff but the trading country has 50% tariffs for US goods. Trump believes the only way he has to redress that problem is to place tariffs on the other country’s goods. (Not necessary exactly the identical products, but on products that will bring the other country to the negotiating table.)
    In the interim he has withdrawn from poorly negotiated treaties, which are unfair to the US….or in the case of Iran from a non-treaty.
    https://monetary-metals.com/monetary-consequence-of-tariffs-report-12-august-201/

    • On August 13, 2018 at 8:32 pm,
      Al B Korelin says:

      I personally think that Trump is doing the right thing, but everyone seems to hate him because of his method of communication.

      • On August 13, 2018 at 10:04 pm,
        CFS says:

        He’s forced into tweeting, because he can’t trust the press.

        Not everyone hates him….only the coastal folks. The majority in Indiana and flyover country like him.

      • On August 14, 2018 at 6:06 am,
        Wolfster says:

        Well based upon his dealings with us up here in Canada I would say he wants so called fair trade only on specific goods…..

        • On August 14, 2018 at 11:01 am,
          Al Korelin says:

          Wolfster, do you mean “fair trade” or “free trade”?

          • On August 15, 2018 at 4:10 am,
            Wolfster says:

            Yes I was mocking “free trade”

  2. On August 13, 2018 at 7:17 pm,
    CFS says:

    Here’s a Trump speech today:
    https://youtu.be/N-ReqYXmaZo?t=682

    He talks about tariffs towards the end.

  3. On August 14, 2018 at 5:30 am,
    OOTB Jerry says:

    https://www.zerohedge.com/news/2018-08-14/censorship-what-happens-when-powerful-people-get-scared
    Combined, these two things created an environment of anger and distrust in which nearly anything becomes possible politically and socially. Trump and Alex Jones are symptoms of a failing society, not the root causes of it.

  4. On August 14, 2018 at 11:03 am,
    Al Korelin says:

    Jerry,
    That is a really good point that I happen to agree with. Thanks man!

    • On August 14, 2018 at 5:09 pm,
      OOTB Jerry says:

      Al,…….you are welcome………hope you are feeling better…….hang in there……


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