+1
My uncle had a '62 Imperial 4-door hardtop, and besides looking great, it also rode and drove magnificently.
I was astonished when he allowed me to drive it, only a few months after I received my driver’s license.
What a wonderful car!
A couple of years later, he replaced the '62 Imperial with a '64 or '65 Imp, and it too was magnificent. After he died, my cousin convinced my aunt to get rid of that Imperial, and to replace it with a '66 Plymouth Fury. As it turned-out, the Plymouth had a terrible build quality, and it actually was less fuel-efficient than the Imperial!
So 28% of steel is imported. That is quite a lot, don’t you think? In any kind of global conflict, only Mexico and Canada would be reliable. The others, while our best friends, are quite far away and may be useless as a supplier. Not arguing, just food for thought.
As for tariffs aimed at out friends or others. Hard to say at this point since we don’t know how this is going to shake out. It is a negotiating tool. While we talk a lot about free trade, @Docnick’s example of Japanese tariffs on imported rice is a fine example that there really isn’t “free” trade on all goods.
If we make Mexico and Canada angry enough, they might not want to help if there is a need. Another thing to note: the net trade deficit is 24.6 million tons since the US exports steel, too. I just don’t see how this does anything to increase steel manufacturing at home in any meaningful way. Increased steel capacity costs billions, and I can’t imagine that any reasonable investors would put money into projects that could become money losers whenever this or a future admisitration decides to remove tariffs.
Aluminum IS a commodity, like steel, for sure but a very strategic commodities. How is it not? Just being a commodity doesn’t eliminate it from being strategic. In the event of a global conflict, steel and aluminum will be required to build arms, in large quantities. It is great that we recycle huge amounts of both steel and aluminum but that recycle loop gets broken in the event of conflict.
I don’t disagree, Smoot-Hawley made things worse. The difference in the times is that we are not currently in an economic downturn. Quite the opposite, we are riding the second longest expansion in our history. Surely that will change but will it because of tariffs?
The experts say tariffs increase prices and reduce employment. Given our 3.8% unemployment, increasing wages for non-management workers and the labor shortages, wouldn’t now be the time to use the threat of tariffs as a negotiating tool to level the field?
If we get into a conflict, steel will be the least of our worries. How about circuit boards and computer screens? I guess I wouldn’t get all excited over early threats that might just be huff and bluff for bargaining chips. We need to wait and see what happens in the long run. Point is much of our manufacturing and machine tool capacity has been gutted over the past 20 years so it is a long road back to reviving some of these. Of course those that sold their souls to foreign manufacturing and shuttered domestic plants to make more money are apoplectic but that’s to be expected. As far as Canada goes, Trudeau is of greater concern than our President.
Back to cars and tail fins. I liked them, especially the 59 Chevy but I was always concerned about the poor body men that needed to repair those quarter panels.
Strategic means essential, relatively scarce, and having no SUBSTITUTE. Since 80% of aluminum is used as beverage containers for which there are 3 substitutes, it makes aluminum a non-strategic commodity. Prior to 1960 there were no aluminum beverage cans.
Glass, plastic and steel have been the beverage containers in the past. Take away pie plates and beverage containers and the US would have massive over-capacity in aluminum production.
Nickel is a strategic commodity as are other rare earths.
I liked the overall size of the 1955-57 Chevrolet and then the size increased. In 1964, Chevrolet brought out the Chevelle which had the same 115" wheelbase as the 1955-57 Chevrolets and had an overall length that was about an inch longer. Yet the 1955-57 Chevrolets were considered full sized cars and the Chevelle was an intermediate sized car. I always thought the Chevelle was a reincarnation of the 1955-57 Chevrolets.
Scarcity is relative. If you don’t have enough to meet your needs, that defines scarcity.
As for material substitution, try building an airplane without aluminum. Even those that are built primarily from carbon fiber use copious qualities of aluminum. I think we can fight a war without aluminum beverage cans. A bit hard to fight one without aluminum.
One LAST comment; if only 20% of aluminum is needed for aircraft and other essential use, and the other 80% (used in beverage containers) can easily substituted by 3 other materials, then aluminum is not a strategic commodity.
Imports as a % of total are a minor share of total consumption…
US dependence on imported oil was a concern at one time. Much less so now.
From Main St to Pennsylvania Ave Americans are strong on trends and image. Most early Mustangs were bought with 6 cylinder 1 bbl engines riding on Falcon suspensions with 13 inch wheels but they had the appearance of a high performance car. Whatever someone is wiling to spend a few $million marketing to US we will buy if it can be financed. I see cheap shoes sold on television for 4 easy $7.00 monthly payments and the phones are ringing off the wall with customers anxious to be seen wearing them. But just lately Detroit might find that they have been too successful and oversold the market. What now? Will Chrysler be the first to fall? Will the used car market become so overloaded with late model cars that the bottom falls out of the ‘late model’ market which is the actual cash cow at new car dealerships?
But look at the smartest people in the world working on Wall St. Sometimes they are as dumb as me. And tomorrow might be sometime.
