https://finance.yahoo.com/news/union-pacific-ceo-new-tariffs-will-hurt-the-railroad-business-201353779.html
4 replies (most recent on top)
Even if UP makes 40% profit, they’ll still trim to the bone to get 41%. For Fritz and his cronies, there will never be “enough” money.
Fritz is the biggest fraud of a UP
CEO. He's gone soon.
It was known at the time of implementation that the tariffs would do considerable harm to many American businesses, especially those such as UP that play an important role in global supply chains.
The answer that the people received who had the temerity to point out that the tariffs would raise business costs, disrupt supply chains, raise consumer prices, and lead directly to lost jobs was "trade wars are easy to win".
The "make it America" crowd doesn't seem to understand (or want to understand) that the U.S. doesn't have, and cannot obtain the manufacturing capacity to meet domestic consumer demand across a wide range industries, and even if it did, much of it would be automated anyway, so few (if any) jobs would be created for the working class.
With the costs of the trade war piling up, U.S. businesses will be forced to raise consumer prices and cut jobs in order to meet profit margins (ex. Unified Plan 2020 at UP).
Nobody benefits from trade protectionism except for the people doing the protecting.
This link was posted already two days ago in another thread.