Trump's Tweet:
Aluminum prices are down 12% since I instituted Tariffs on Aluminum Dumping - and the U.S. will be taking in Billions, plus jobs. Nice!
So so much wrong with that...
First of all... it is true. The global price of Aluminium has dropped. But that's for the price of the metal itself. Consumers don't pay that price, because they often have to pay tariffs in addition to the base price of the metal.
Secondly, he seems to be ignoring the reason why the price has dropped. Its because people are worried that Trump's actions might end up slowing global economic growth, thus dropping the demand for aluminium.
Thirdly, his claim that they are "taking in Billions"... he doesn't seem to understand (or care) that its the American consumer who is paying the tariffs (i.e. they're the ones that they are collecting the billions from.)
Lastly jobs... yes, some aluminum plans have hired people. Others however, have not. Alcoa for example cut 600 jobs.
https://www.bloomberg.com/news/arti...k-huge-premium-from-allies-hosting-u-s-troops