Cleaning lady

[webfact]

Trump lauds Taiwan's Foxconn, threatens Harley on Wisconsin trip

 

President Donald Trump, along with Terry Gou, founder and chairman of Foxconn, Wisconsin Governor Scott Walker, and Speaker of the House Paul Ryan participate in the Foxconn Technology Group groundbreaking ceremony for its LCD manufacturing campus, in Mount Pleasant, Wisconsin, U.S., June 28, 2018. REUTERS/Darren Hauck

 

MT. PLEASANT, Wis. (Reuters) - U.S. President Donald Trump praised Taiwanese high-tech company Foxconn and vaguely threatened U.S. motorcycle maker Harley-Davidson on a campaign-style trip on Thursday to Wisconsin, a state that supported him in the 2016 election.

 

Against a backdrop of a growing trade conflict between the United States and China, Trump helped Foxconn, the world’s largest electronics contract manufacturer, to break ground on a 13,000-employee U.S. plant.

 

"As Foxconn has discovered, there is no better place to build, hire and grow than right here in the United States. America is open for business," Trump said.

 

Trump also had words for Milwaukee-based motorcycle maker Harley-Davidson Inc <HOG.N>, which he has threatened with higher taxes if it moves production for European customers overseas.

 

"Harley-Davidson, please build those beautiful motorcycles in the USA," he said. "Don't get cute with us, don't get cute."

 

Trump has levied tariffs on U.S. allies for what he considers unfair trade practices, sparking trade disputes that Harley-Davidson cited as its reason for moving some production overseas and which Foxconn has also cited as a major challenge.

Foxconn is formally known as Hon Hai Precision Industry Co Ltd. <2317.TW>

 

(Reporting by Jeff Mason; Additional reporting by Tim Ahmann; editing by Kevin Drawbaugh and Grant McCool)

 

-- © Copyright Reuters 2018-06-29

[nobodysfriend]

Well , one unforeseen consequence of Donald's " trade war " is that american companies who sell a lot abroad start producing there as well , just to stay competitive .

On the other hand , some big companies from abroad will set up factories in the US to avoid the import taxes ... just a question of calculating profits that might lead to more multinational companies and globalisation .

But anyway , something that is produced in the country where it is supposed to be sold as well , does not need to be shipped anymore , so a little less pollution , a good thing .

[bristolboy]

1 hour ago, nobodysfriend said:

Well , one unforeseen consequence of Donald's " trade war " is that american companies who sell a lot abroad start producing there as well , just to stay competitive .

On the other hand , some big companies from abroad will set up factories in the US to avoid the import taxes ... just a question of calculating profits that might lead to more multinational companies and globalisation .

But anyway , something that is produced in the country where it is supposed to be sold as well , does not need to be shipped anymore , so a little less pollution , a good thing .

Except of course, that the differential in wages means that lots more will be leaving  the USA than coming in. And of course, the cost of good will increase to the American consumer.

[Briggsy]

3 hours ago, webfact said:

Trump also had words for Milwaukee-based motorcycle maker Harley-Davidson Inc <HOG.N>, which he has threatened with higher taxes if it moves production for European customers overseas.

 

"Harley-Davidson, please build those beautiful motorcycles in the USA," he said. "Don't get cute with us, don't get cute."

Again deliberately misleading. The casual reader / listener would think from Trump's repeated vitriolic comments against Harley Davidson that Harley Davidson is ceasing production in the US and importing foreign-made motorcycles into the US. He wants people to think that. It is absolutely not true.

 

He is playing to an ignorant gallery. It is highly irresponsible. It is also a warning to others not to make any criticism of Trump decisions, however justified, as he will launch a series of non-fact twitter attacks against them.

[ChidlomDweller]

Bit rich berating HD while his own branded crap is made in China and other low-cost countries.  But never mind, his low-information, ethically confused voters will give him a pass.

[fxe1200]

The decision to start producing Harleys abroad dates back to spring 2017, when there was not one word about punitive tariffs being imposed by the EU, and no complaint by Donald Trump either. Harley just follows the money trail, as it has been successfully done by Triumph, Ducati, Honda, and Yamaha, who all have their production facilities in Thailand and other Asian "low-wage" countries. Besides Asia is considered a strong future market for motorcycles, whilst the sales of Harleys in the U.S. dwindle.

[Berkshire]

7 minutes ago, fxe1200 said:

The decision to start producing Harleys abroad dates back to spring 2017, when there was not one word about punitive tariffs being imposed by the EU, and no complaint by Donald Trump either. Harley just follows the money trail, as it has been successfully done by Triumph, Ducati, Honda, and Yamaha, who all have their production facilities in Thailand and other Asian "low-wage" countries. Besides Asia is considered a strong future market for motorcycles, whilst the sales of Harleys in the U.S. dwindle.

HD decided to manufacture in Thailand because Trump pulled out of the TPP.  So Trump can take credit for that as well.

[bristolboy]

9 minutes ago, fxe1200 said:

The decision to start producing Harleys abroad dates back to spring 2017, when there was not one word about punitive tariffs being imposed by the EU, and no complaint by Donald Trump either. Harley just follows the money trail, as it has been successfully done by Triumph, Ducati, Honda, and Yamaha, who all have their production facilities in Thailand and other Asian "low-wage" countries. Besides Asia is considered a strong future market for motorcycles, whilst the sales of Harleys in the U.S. dwindle.

You have evidence for this? What we do know is that the EU imposed a 31% tariff and that the cost of steel has sharply increased as well. So whether Harley was planning to leave or not, clearly it was not economically feasible to continue manufacturing its bikes built for export to Europe in the USA.

[attrayant]

2 hours ago, nobodysfriend said:

Well, one unforeseen consequence of Donald's "trade war" is that american companies who sell a lot abroad start producing there as well, just to stay competitive.

 

Unforeseen only by Trump.  Shifting global resources & production around in response to economic pressures is the expected result of a trade war.

[ballpoint]

Makes a change to see him with the Foxconn man rather than the usual Fox conmen.

[Tug]

Good one ballpoint ! Trumps tariffs are really a tax except you receive something for your taxes thease  are just a parasite quit messing with Harley they are just trying to survive in the trump era

[Expatthailover]

1 hour ago, Briggsy said:

Again deliberately misleading. The casual reader / listener would think from Trump's repeated vitriolic comments against Harley Davidson that Harley Davidson is ceasing production in the US and importing foreign-made motorcycles into the US. He wants people to think that. It is absolutely not true.

 

He is playing to an ignorant gallery. It is highly irresponsible. It is also a warning to others not to make any criticism of Trump decisions, however justified, as he will launch a series of non-fact twitter attacks against them.

In terms of ignorant gallery you mean his voter base?

The man has 2 modes..nasty or dismissive.

What a shocking role model for his young son and aspiring politicians in the west

[fxe1200]

1 hour ago, bristolboy said:

You have evidence for this? What we do know is that the EU imposed a 31% tariff and that the cost of steel has sharply increased as well. So whether Harley was planning to leave or not, clearly it was not economically feasible to continue manufacturing its bikes built for export to Europe in the USA.

The first mention of the new plant in Thailand is from November 30th 2016. Most of the relating articles are published around the 25th of May 2017. Google it yourself.

Edited June 29, 2018 by fxe1200

[Thailand]

As China considers Taiwan to part of China it's simply another step to global domination of the east over the west. ?

[Srikcir]

Some worthwhile background in Foxconn's new US plant:

• the Wisconsin deal would cost $231,000 per job - total more than the combined yearly state funding used to operate the University of Wisconsin System and the state's prison system. 
• up to $1.5 billion in state income tax credits for jobs created
• up to $1.35 billion in credits for capital investment
• up to $150 million in sales tax exemptions on construction materials
• pay no corporate taxes on profits from sales on products made there. 
• incentives would cost the state about $200 million a year

"Throwing money into incentives makes a slippery slope, ... (People) get so wrapped up in the winning game, in the headline of 'we got it' that they lose sight (of the) pretty steep price." - Steve Deller, a professor of agriculture and applied economics at the University of Wisconsin-Madison

https://www.jsonline.com/story/news/2017/07/26/scott-walker-heads-d-c-trump-prepares-wisconsin-foxconn-announcement/512077001/

[Berkshire]

19 minutes ago, Srikcir said:

Some worthwhile background in Foxconn's new US plant:

• the Wisconsin deal would cost $231,000 per job - total more than the combined yearly state funding used to operate the University of Wisconsin System and the state's prison system. 
• up to $1.5 billion in state income tax credits for jobs created
• up to $1.35 billion in credits for capital investment
• up to $150 million in sales tax exemptions on construction materials
• pay no corporate taxes on profits from sales on products made there. 
• incentives would cost the state about $200 million a year

"Throwing money into incentives makes a slippery slope, ... (People) get so wrapped up in the winning game, in the headline of 'we got it' that they lose sight (of the) pretty steep price." - Steve Deller, a professor of agriculture and applied economics at the University of Wisconsin-Madison

https://www.jsonline.com/story/news/2017/07/26/scott-walker-heads-d-c-trump-prepares-wisconsin-foxconn-announcement/512077001/

Interesting.  And this is Trump's idea of "winning."

[bristolboy]

1 hour ago, fxe1200 said:

The first mention of the new plant in Thailand is from November 30th 2016. Most of the relating articles are published around the 25th of May 2017. Google it yourself.

Yes, there is a new plant. But your allegation that Harley Davidson planned all along to move their European production there is based on what exactly?

[thaiguzzi]

10 hours ago, bristolboy said:

Yes, there is a new plant. But your allegation that Harley Davidson planned all along to move their European production there is based on what exactly?

Er, they don't produce anything in Europe dude.

This is a SE Asian plant designed to sell HD motorcycles to SE Asia and China. Bikes could be shipped (transported) to China in 7 days rather than 60 from the USA. Perhaps Australia in the future too.

But not Europe...

 It was planned well before Trump and his tariffs were news.

[bristolboy]

7 minutes ago, thaiguzzi said:

Er, they don't produce anything in Europe dude.

This is a SE Asian plant designed to sell HD motorcycles to SE Asia and China. Bikes could be shipped (transported) to China in 7 days rather than 60 from the USA. Perhaps Australia in the future too.

But not Europe...

 It was planned well before Trump and his tariffs were news.

I think it's likely he meant production for Europe not production in Europe.

[Srikcir]

21 hours ago, Srikcir said:

they lose sight (of the) pretty steep price

Just a reminder that American states must maintain a balanced budget, unlike the federal government that can and does have a budget (albeit increasing) deficit.

When lucrative benefits are given to attract businesses to a state that MIGHT result in long-term beneficial returns to the state, in the short-term the state will have to reduce government spending or increase taxes to cover budget shortfalls created by loss of revenue due to those business benefits.

No Pain No Gain. Pain maybe something the Wisconsin taxpayers weren't warned about with the deal with Foxconn.

 

[bristolboy]

5 minutes ago, Srikcir said:

Just a reminder that American states must maintain a balanced budget, unlike the federal government that can and does have a budget (albeit increasing) deficit.

When lucrative benefits are given to attract businesses to a state that MIGHT result in long-term beneficial returns to the state, in the short-term the state will have to reduce government spending or increase taxes to cover budget shortfalls created by loss of revenue due to those business benefits.

No Pain No Gain. Pain maybe something the Wisconsin taxpayers weren't warned about with the deal with Foxconn.

 

Actually, it depends on the constitution of the individual state whether or not it has to run a balanced budget.

But the Foxconn deal is fiscal lunacy.

[bristolboy]

 G.M. Says New Wave of Trump Tariffs Could Force U.S. Job Cuts

 

General Motors warned Friday that if President Trump pushed ahead with another wave of tariffs, the move could backfire, leading to “less investment, fewer jobs and lower wages” for its employees.

The automaker said that the president’s threat to impose tariffs on imports of cars and car parts — along with an earlier spate of penalties — could drive vehicle prices up by thousands of dollars. The “hardest hit” cars, General Motors said in comments submitted to the Commerce Department, are likely to be the ones bought by consumers who can least afford an increase.

https://www.nytimes.com/2018/06/29/business/automakers-tariffs-job-cuts.html

[Srikcir]

2 minutes ago, bristolboy said:

Actually, it depends on the constitution of the individual state whether or not it has to run a balanced budget.

All but one (Vermont) of the 50 states already have some form of a balanced budget requirement.

45 states are required to have balanced budgets as per amendments to their state constitutions and 4 of them are required by statute, not a Constitutional amendment. http://www.politifact.com/texas/statements/2010/dec/25/john-cornyn/sen-john-cornyn-says-49-states-have-balanced-budge/

 

[bristolboy]

34 minutes ago, Srikcir said:

All but one (Vermont) of the 50 states already have some form of a balanced budget requirement.

45 states are required to have balanced budgets as per amendments to their state constitutions and 4 of them are required by statute, not a Constitutional amendment. http://www.politifact.com/texas/statements/2010/dec/25/john-cornyn/sen-john-cornyn-says-49-states-have-balanced-budge/

 

Except that in lots of states capital expenditures for big ticket items like highways bridges, etc are not included in the budget but are funded by sales of bonds. That also goes for underfunded pensions. So a lot of those alleged balanced budget rules would fail by Federal standards.

[FritsSikkink]

On ‎6‎/‎29‎/‎2018 at 7:52 AM, nobodysfriend said:

Well , one unforeseen consequence of Donald's " trade war " is that american companies who sell a lot abroad start producing there as well , just to stay competitive .

On the other hand , some big companies from abroad will set up factories in the US to avoid the import taxes ... just a question of calculating profits that might lead to more multinational companies and globalisation .

But anyway , something that is produced in the country where it is supposed to be sold as well , does not need to be shipped anymore , so a little less pollution , a good thing .

Doubt if there are a lot of companies outside the US that want to setup a company as long as that idiot is running the country.

Edited June 30, 2018 by FritsSikkink

[janclaes47]

12 hours ago, bristolboy said:

I think it's likely he meant production for Europe not production in Europe.

He he? There is only one member in this thread that mentioned Europe production related to Thailand, because he doesn't see the forest through the trees any more in his Trump hatred.

 

HD also gonna shut down the Australia plant, you gonna blame that on Trump steel imports as well

[janclaes47]

On 6/29/2018 at 9:58 AM, Berkshire said:

HD decided to manufacture in Thailand because Trump pulled out of the TPP.  So Trump can take credit for that as well.

You mean Trump was making decisions about TPP already before he was elected?

 

On 6/29/2018 at 11:06 AM, fxe1200 said:

The first mention of the new plant in Thailand is from November 30th 2016. Most of the relating articles are published around the 25th of May 2017. Google it yourself.

 

[fxe1200]

On 6/29/2018 at 7:52 AM, nobodysfriend said:

Well , one unforeseen consequence of Donald's " trade war " is that american companies who sell a lot abroad start producing there as well , just to stay competitive .

On the other hand , some big companies from abroad will set up factories in the US to avoid the import taxes ... just a question of calculating profits that might lead to more multinational companies and globalisation .

But anyway , something that is produced in the country where it is supposed to be sold as well , does not need to be shipped anymore , so a little less pollution , a good thing .

Ducati, as well as Triumph are producing in Thailand for the American, European, and Asian market. I believe, Harley will do it similar to Levi's jeans: produce in China, import them into the U.S., put their leather patch on the back and sell them as Made in America, preferably for export.

[jerojero]

Don get cute HD! Your pending business losses are your sacrifice to support my political agenda. aka tarrifs. And keep all employees regardless if you are losing money. My political standing and ego is more important than you.

[jerojero]

Again deliberately misleading. The casual reader / listener would think from Trump's repeated vitriolic comments against Harley Davidson that Harley Davidson is ceasing production in the US and importing foreign-made motorcycles into the US. He wants people to think that. It is absolutely not true.
 
He is playing to an ignorant gallery. It is highly irresponsible. It is also a warning to others not to make any criticism of Trump decisions, however justified, as he will launch a series of non-fact twitter attacks against them.

Simply too bad millions of Americans are so stupid to continue to support of this ego maniacal moron.