The New York Times reports that steel manufactures with close ties to Trump regime officials have successfully objected to and blocked over a thousand requests for exemptions from Trump's tariffs.
In at least 1,600 cases, their objections have literally never failed.
Protectionist policies imposed by officials who don't even understand the fundamental economics of trade are bad enough, but protectionist policies imposed by executive fiat to advance political interests opens to the door to corruption.
Steel manufacturers and Trump regime officials conspiring to artificially raise prices looks like racketeering to me. It's extortion.
Keep in mind that all of Trump's tariffs have been imposed on the grounds of protecting "national security," but the Trump regime has not spelled out how imposing tariffs will protect national security. The very basis of Trump's tariffs hasn't been substantiated and they're being wielded in favor of special political interests, not economic.
This all has a very Robber Barons feel to it.
The long standing line about Republican voters is that they want to drag America beck to the 50s. That’s probably true, but I’m guessing that’s the last thing the GOP’s billionaire donor class wants. To them the 50s were a time of high taxes on top “earners”, regulations were being put in place on industries (because the moocher class needed their air clean and their water drinkable) and labor unions were at the peak of their political power.
No, what the GOP’s wealthiest donors are pining for is a return to the roaring 20s. Only this time when the Great Depression 2.0 hits, their won’t be any dirty New Deal to dig us out and put people back to work, put a social safety net in place or new regulations to make sure this psychotic corruption never happens again.
They want to party like it’s 1929. If a blue wave doesn’t remove enough enabling Republican worms from office, America will be the worlds largest, most inefficient company town.
1600 objections from Nucor and US Steel, 1600 denials of exemptions.
My hunch is that those 1600 requests represent 1600 instances when Nucor and/or US Steel got outbid by foreign suppliers.