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* Sun-Times…
Gov. Bruce Rauner discussed the threat posed by escalating trade disputes with the the Japanese ambassador to the United States on Tuesday at a machine tools facility in Schaumburg.
“We … talked about tariffs, and the importance of making sure we don’t break out in a full trade war, how tariffs can cause massive unemployment, job losses, around the world and here in Illinois,” Rauner said.
Rauner said he told Ambassador Shinsuke J. Sugiyama in a private meeting that he had cautioned Trump administration officials to avoid a “tariff war” during a recent trip to Washington D.C.
* Daily Herald…
Gov. Bruce Rauner acknowledged a trade war “could cause massive unemployment and job losses” in Illinois as he was touring a Schaumburg steel company Tuesday with Japanese officials who worry the White House will double down on tariffs. […]
Japan-based Amada America Inc. fabricates sheet metal and employs about 90 people at its Schaumburg location, mostly engineers and managers.
The company gets much of its steel domestically but is facing uncertainty, Amada Executive General Manager Jeff Otten said. “We’re still waiting to see what happens,” he said.
Steel and aluminum tariffs imposed by Trump are a grave concern, Consul-General of Japan in Chicago Naoki Ito said, as is a new threat of similar tariffs against auto parts.
“Japan is a major investor in Illinois … and is responsible for creating many tens of thousands of jobs,” said Rauner, who added he’d voiced concerns about the policy to Vice President Mike Pence and congressional leaders while visiting Washington recently.
posted by Rich Miller
Wednesday, Jul 11, 18 @ 4:03 am
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Previous Post: Cook County GOP Chairman wants to get rid of partisan elections
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Americans desire for mostly non-union,lower cost goods has resulted in in $29 BILLION dollar trade imbalance from January to May of this year alone.
Comment by BlueDogDem Wednesday, Jul 11, 18 @ 6:24 am
===Rauner said he told Ambassador Shinsuke J. Sugiyama in a private meeting that he had cautioned Trump administration officials to avoid a “tariff war” during a recent trip to Washington D.C.===
Care to elaborate on that little soiree, Bruce?
Comment by PublicServant Wednesday, Jul 11, 18 @ 6:59 am
This private meeting probably happened with his immigrant grandparents, right after he got off the phone with Jeanne Ives after the Primary.
Comment by Concerned Dem Wednesday, Jul 11, 18 @ 7:23 am
=“We … talked about tariffs, and the importance of making sure we don’t break out in a full trade war, how tariffs can cause massive unemployment, job losses, around the world and here in Illinois,” Rauner said.=
My guess is that the Japanese ambassador is a smart guy. You might want to consider having this discussion with the guy on Pennsylvania Avenue.
Comment by Pundent Wednesday, Jul 11, 18 @ 8:05 am
= $29 BILLION dollar trade imbalance from January to May of this year alone=
Per Forbes:
“The defining criteria for economic health in the context of discussing trade deficits must involve a discussion of inflation, monetary policy, foreign exchange of currency, specialization of labor markets, comparative advantages, and more. Quite frankly, an inadequate savings rate is the most frequent cause of a trade deficit, and the macroeconomic picture would be far better by addressing inadequate savings and investment than it would by trying to decrease imports into our country.”
In case you want to read the whole article:
https://www.forbes.com/sites/davidbahnsen1/2018/04/18/taking-the-understanding-deficit-out-of-trade-deficits/#52b386ad8d6b
Comment by Pundent Wednesday, Jul 11, 18 @ 8:11 am
I can’t think of a reason to believe anything Rauner “says he said.”
The book on him is years of a constant stream of self-serving lies, on matters large and small.
Comment by wordslinger Wednesday, Jul 11, 18 @ 8:18 am
Where is the disclaimer for unverifiable facts that were said
Comment by Rabid Wednesday, Jul 11, 18 @ 8:26 am
Pundent. Good stuff. I look for union built goods. All the time. From wherever. The fee trade folks(notice I didn’t say fair trade) have umpteen reasons for US trade disparities. Me I just want access to another countries markets on the same level as we allow them into ours.
Comment by BlueDogDem Wednesday, Jul 11, 18 @ 9:07 am
If Rauner is against tariffs then I’m for them.
Comment by Streamwood Retiree Wednesday, Jul 11, 18 @ 9:16 am
=Me I just want access to another countries markets on the same level as we allow them into ours.=
This is another key aspect that’s overlooked in trade wars by Trump and others. Also from the Forbes article:
“If one were to write the ideal primer on trade, it would start with this dictum: Countries do not trade with each other; Companies (and people) trade with each other.”
Our tariffs are low (unfair as you see it) because that’s what our people want. Drive around on Black Friday if you need more evidence of that. We are largely a service economy that outsourced manufacturing to other parts of the world decades ago because we, the people, want cheap stuff.
Maybe the best way to overcome Trump’s position on trade is to let people know that the days of cheap TV’s after Thanksgiving will be ending.
Comment by Anonymous Wednesday, Jul 11, 18 @ 9:23 am
9:23 was me.
Comment by Pundent Wednesday, Jul 11, 18 @ 9:23 am
–Pundent. Good stuff. I look for union built goods. All the time. From wherever.–
Sure you do. Where do you buy your clothes, shoes, electronics and produce? You must be paying a hefty premium for them.
– Me I just want access to another countries markets on the same level as we allow them into ours.–
“Me” being the key word here. You want your government protection from competition, no matter how badly it tunes up farmers, auto workers and service trades.
Comment by wordslinger Wednesday, Jul 11, 18 @ 9:36 am
===tariffs can cause massive unemployment, job losses, around the world and here in Illinois,”===
–said Governor Lepetomane, “unemployment, job losses, thats my job, and i am damn good at it.”
Comment by Langhorne Wednesday, Jul 11, 18 @ 10:13 am
Word. Close. I want to sell widgets in China,Japan and India without having to give up controlling interest in the widget factory(japan not so much). I know this is a bit past tense since the employees took over, but they fight the same battle. You keep claiming I want protections.nothing could be further from that. I want a fair playing field. It’s tough enough as it is when wages are so different, but Hard working union folks make the difference. In regards to those products you mentioned. It is hard to find some things made, but union sold isn’t so hard to find.
Funny you should mention farmers. $18 billion a year in USDA help is part of the problem.
Comment by BlueDogDem Wednesday, Jul 11, 18 @ 10:43 am
“I want….”
Believe me, it’s no mystery that it’s all about you.
–Funny you should mention farmers.–
Yeah, regular laugh riot, the billions Midwestern farmers are going to lose on these self-destructive tariffs.
https://www.upi.com/Top_News/US/2018/07/03/Midwestern-farmers-brace-to-lose-billions-in-trade-war/2381530553532/
Comment by wordslinger Wednesday, Jul 11, 18 @ 10:52 am
Trump may very well hurt Farmers worse that Carter did with the embargo fiasco. Of Course Bruce is the best ag trade rep in Illinois so we got nothin to worry bout.
Comment by flea Wednesday, Jul 11, 18 @ 4:30 pm
You used to be able to find made in USA products in stores if you looked. Nowadays you have to go online. I’ve been looking for a made in USA cordless drill for a while. I don’t think one exists.
Comment by Da Big Bad Wolf Thursday, Jul 12, 18 @ 6:10 pm