So long even by us i was it would have made more. My choice to discard if i was given their way to transmit the straw. Men in the cash mom match and i will. Tell you. The world seems a pretty topsy turvy place right now u. S. President donald trump has been doing what he can to turn the long existing system of International Trade on its head he is a keen africa to trade wars and a slap to punitive tyrants from china and germany. Says that german cars are exported unfairly to the u. S. And claims that they pose
a threat to americas security. Because they do their. Best twenty first the first. The day where its just. This is nonsense ling trending global trade and it comes at a time when more and more people are worried about their jobs or feel completely marginalized so its all rich mans game. Theyre destroying america thats what theyre going. To jog around here and. Everything is minimum wage or little. System of then you get scared when you hear jobs are at risk somewhere. Its a Vicious Circle you just cant get away from globalization for a. Group as asian simply. For many people. How our President Trumps aggressive high state policies impacting on international
trade and our trade practices any better. All. Of. This intervene to hunger managing director of a german Steel Company says trumps America France Trade Policy Doesnt Make Sense when targets b. T. H. Factories produce about Two Hundred Thousand tonnes of Stainless Steel a year ten percent of that is exported to the yo ass. But in spring twenty eighteen those exports were hit with a twenty five percent importer of that of course raises the price of german steel in the u. S. But a number of American ManufacturingCompanies Need that steel so they pay the extra tax. Is also their demise. Most of those companies have to import steel from other countries. Its the only way they can get it because the u. S. Just doesnt produce enough high quality steel i mean. Thats why steel imports are so high it. Looms with a symphony of paying more to cover the cost of those terrorists themselves so it is on with. The father and the Steel Processing industry in the us is extremely worried about those higher prices because it in turn makes their products more expensive. So in Kevin Dougherty predicts that trumps terror of policy will backfire because the u. S. Products that are made with german steel including cars machines and industrial pipes now cost more turnover remain stable for now because the companies can supply
the high quality product needed but the tariffs are also making german still manufacturers very nervous. I just say you know to say that were stuck in a trade war that slowly escalating and we cant get out of it how do you see it. If i said to the danger is that things will eventually spin Out Of Control and at some point trade will just collapse. I definitely describe this as a war not least because of the huge scale of it. I think that i doubt if any of tariffs are imposed on the Automobile Industry were talking about a situation that could affect many jobs was not the all right that your fear so were really concerned about it. But also these ideas all. The years economists and politicians have been telling us global free trade is good for everyone President Trump apparently disagrees now weve got
a trade war on our hands. Whats up in the u. S. Weve come to the rust belt a part of the u. S. Which has been an industrial decline for decades new terrorists were supposed to help the Steel Industry there but that hasnt happened on business after another has gone bankrupt the downturn in the Steel Industry in this part of the country began in the Nine Hundred Seventy s. And it has had a massive impact on local communities. President trump tweeted about this decline repeatedly during the Election Campaign as he tried to win over Blue Collar Workers. General motors was once the well its not just manufacture of a want to might be but now three of its factories are on the verge of collapse like this one in town ohio where the Chevrolet Cruze is spelt. Scott she took used to welcome the concert sandy like he drives a chevrolet but not a cruise he prefers a powerful gas guzzling tamara. This is a twenty seventeen Fiftieth Anniversary camaro s. S. Two s. S. Convertible quad black edition so its black black roof black interior and black wheels these cars dont exist youll find for twenty seven seasons for sale on the internet. But only have a c. M. President trump visited out of high and demanded the General Motors keep the hope and g. M. Plans to close the plant anyway. Of the whole plant is going to close and its
a this get a break everyones heart because all these people like to do truthfully is to make decent money and work hard and then go out and spend their money in the community and thrive in the community and General Motors is the largest thing we have employer wise and trouble. Was living the American Dream and he believed that donald trump could do something to change the laws of free trade that so often destroy jobs. Maybe that we call in at the drive in Restaurant Wescott see still lacks. A c. C. Doesnt much money hand thats typical to many people in this part of i hire a lot of the jobs that pay well have disappeared. Still she makes great food. All about but long. Now the g. M. Plant is closing what do you think you know what does it mean for your brother. Or
you wouldnt just not their jobs around here now. Everything is minimum wage or little bugs. And there is a standard person just cant live on that its. Impossible for thirty bucks so hour to ten bucks an hour warmer every work very well you see there are dogs that even do. The eversley theyre very close a mother. Sconce sister is thinking about buying a new car a german car for the first time in my life to ever thought to buy another product besides General Motors and she likes what im lazy all of them i get out. And they make us any more we are going to leave i have money around car and i say last time i dont know of the smaller doesnt appear in germany its a big issue. So heres a rust belt resident who wants to buy a german s. U. V. Thats built in tennessee for the u. S. Market only well trained in the age of globalization pays no attention to International Borders but thats not what President Trump simplistic catchphrases and punitive tyrants would have you believe. In. Many of high residents like scott and he says to have bought into trumps promises but a local official of the Auto Workers Union says that tariffs dont protect jobs quite the opposite in fact. That tariffs and they want to impose these tariffs it actually kind of hurt the Auto Industry because still the price of still what are so it cost g. M. To build it cost them more money to build the cars here now if the prices still is higher so theyre continuing to move this work to Mexico Bailey david greene points out that the president has rewarded big corporations that transferred jobs to mexico to comp labor costs. President trump gave them huge tax breaks in this
g. O. P. Tax plan and in that tax plan its actually cheaper for Companies LikeGeneral Motors to import cars instead of paying twenty one percent tax now they only pay ten and a half percent tax right on their profits so its cheaper for them to actually bring these cars in from outside the country now and we think that thats wrong and we think that thats not helping our cause here at all. So instead of america its jobs lost still trumps tyrus and trade wars remain popular with many voters the president recently claimed that imported german concept resent a threat to Americas National security and he threatened to stop a tariff of up to twenty five percent on them. Ive come to the city of youngstown to meet the Associate Editor of the Business Journal brian hes the newspapers expert on the decline of the Automobile Industry. A number of us president s of trying to
change American Trade Policies particularly skeptical of Donald Trumps approach. The trade deficit hasnt changed people are still buying imports despite higher prices in and whether or not those prices will really be that detrimental to the consumer is yet to be seen. In the answer isnt as you said tariffs per se. The answer is in the Trade War The Answer is actually finding different ways more innovative ways to manufacture products in this country. Trade wars no one ever wins a trade war we have to remember that. The chances yes. I may if differ with the president on that issue because no one really wins a trade war. Its who loses the least i think when it comes down to it. And
studies indicate that while global free trade has helped the rich to increase their wealth it has also destroyed the jobs of many Blue Collar Workers a trade war would likely make this situation worse. Dan obrien talked about innovative jobs but what happens when new technologies end up competing with each other. Weve seen that in germany in the effort to rebuild the economy and infrastructure in the former communist east the chemical production sector in the beautiful dolphin region was wiped out by Government Subsidies helped to create a new Solar Technology industry there and various konetzni worked as a supervisor at a company that made solar cells. What was the mood like back then sell a valley sounds like Silicon Valley exciting. There was a new sense of optimism people were saying that the Technology Sector was growing
and creating more jobs in the region unemployment started falling. More than you know. Government subsidies help the new solar cell sancta to get started and compete effectively in World Markets but at about the same time china massively increased subsidies in its solar Cell Industries in the german sector crashed once again and drabs come yet sneek found it himself facing an uncertain future on. This if you get scared when you hear jobs are at risk somewhere. And its even worse for older workers. Who are afraid that you wont be able to find a new job in the same region. Like you and german minister of economics and technology at the time. Was opposed to more subsidies he preferred a free market approach. Yes it is because who wants and i go see a video here of iceland speaking in the bundestag and hes talking about whether
the subsidies for the Solar Energy Center should continue. Or not. I dont think theres been a record increase in the solar cell sector and Eighty Million customers and four million small to medium sized businesses are paying the price this sort of command Economy Policy is not acceptable here in europe i was in this case even though this is it what do you think he meant by that. But it is well thats politics for you it hasnt changed. Its a complicated situation. And it is pretty hard to make any sense of it first the German Government provided subsidies and then cut them then the e. U. Stepped in with protective tariffs but china with its Command Economy became the world leader in the production of solar cells as konetzni was demoted to a janitors job at the factory. Tariffs and subsidies seem to be
part of the cutthroat world of International Trade and prayers konetzni and probably feel like pieces on the chessboard of globalization. Economist yes zicam says the populist donald trump is playing to the existential fears of these workers. Theres one reason why donald trump became president. He won states that had been hit hard by globalization in the Midwest Plus Pennsylvania and ohio. These states traditionally vote democrat but he managed to carry them by attacking globalization and china in his Campaign Speeches without these states that have lost out because of globalization its impossible to understand donald trump success. For. President trump has clearly abandoned the principles of free trade in favor of tariffs and trade walls but free
trade has never really been free. For. Everyones talking about free trade right now. But free trade does not exist it never has existed. Theres always an element of protectionism in trade policy. This is just sometimes more concealed in some cases than others. I dont think it would be a good idea in the long term for world trade to develop into a sort of jungle where the u. S. China and the e. U. Subsidies and protectionism to compete with each other. Trade may not be fair but now more than ever one rule seems to govern Survival Of The Fittest for example in africa where the u. S. And china are expanding their trade presence. Both countries see excellent opportunities in the west african country of ghana or the
gold coast as it was once known. This part of the continent is rich in natural resources. The European Union is also involved in trade here and is acting in its own interests by demanding duty free Market Access for subsidized european Agricultural Products garner of course would prefer to continue to produce its own Farm Products to keep young people in Rural Areas Gainfully employed. But the e. U. Is having none of that. Because ive come to ghanas capital our crowd to meet economist and labor expert. We stopped by Tomato Market oh to says the prices are set here on a daily basis. Citizenship that someone is someone in the market who is fixing the prize in the morning or a lady who was worse than the sellers tell me that they need a fat price its the dry season now so tomatoes have brought down from ghanas
found north east they cant compete with inexpensive tomato paste thats imported from europe and china. You can find it on sound just about everywhere. Fresh local tomatoes are left to rot. Just its hot and humid right now so those tomato should be processed quickly but thats not an option theres nothing disagree here john. Locke our bodies are all work it. Was important competition for you guys but theres a message to dismiss. This story as must apply to bring your four year old the lies that are metal from italy is focused on the guys commission of all for the jets to sell for too long a manufacturer an entire life little by. Little more theyre going for yourself as
artillery shells are. Goners man agricultural exports is cocoa it is the worlds second largest producer and exporter of rollitt. But almost none of it is processed into chocolate here fats down in other countries. Germany for example is europes leading producer of chocolate has. Such the local markets for Chocolate Basket but couldnt find any we finally managed to track some down at this carriage the shortage of processed chocolate here comes as no surprise to old to whose father was. Produced close. By how to make a special effort to locate structures hot liking germany the way you produce zero
amount of coke. Is everywhere so many. Problem is that truckload before and im not to throw it out my father had it before you buy it or you produced montauk out there is no possible the producer explored destructors. To say germany are your. Clothes youre using the best its probably because of the trip policies youve mentioned so it doesnt force us to. Ignore long as. Im. Not surprised really what this one was you know says it would. Have tired and thats why you tariff escalation. Tariff escalation is a new concept for accounting for years the country was allowed to protect itself against cheap agricultural imports and exports its own Farm Products duty free. But in recent Free Trade Agreements the e. U. Ordered ghana to drop its tyrants if it wanted to continue export. Some pressure from the you again you interrupt your tribe that i dont know how that to impose a. Significant amount of pressure without warning that if you dont know push a terrorist and i remember this deadline. Yeah poor countries are going to lose their Market Assets into a well if you have followed the way e. P. A. Negotiations have gone. You clearly see that this is a. First policy would clear interests. Everybody has acted in the past like mr wood i see important as our trances. So when