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Donald Trump, contrary to his habitual exaggerations, did not spend very much of his business career building things. His most profitable line of business has long been putting his name on things, which is really a different sort of enterprise. For the people who actually are building buildings right now in these United States, Donald Trump is a giant pain in the ass . . .. . . The price of steel and aluminum may represent only a small share of the final cost of a Toyota Tundra (built in San Antonio) or a Caterpillar tractor-scraper (made in Decatur, Ill.), but it’s a big part of the budget for builders. “Our margins are only 4 percent,†the project manager says. “If we don’t have an agreement that allows for escalation, that could be devastating. If steel is 6 percent of our cost but goes up 25 percent in price, it will significantly eat into that margin. To make projects pencil out, raising that price could make a project not feasible any longer" . . .. . . But I suppose that’s only of interest to people who live in buildings or drive cars, or who consume products that are made and stored in buildings or transported via truck, train, ship, or airplane. And the shareholders and workers at Caterpillar, GM, Boeing, Ford, Toyota, United Technologies . . .
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Topic: How Tariffs Cause Chaos in the Real World (Read 162 times)
