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Someone please explain to me why US steel mfgr's raised their prices as a result of the tariffs, which is how I read the above statement.

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The U.S. trade deficit rose to a seven-month high in September as imports surged to a record high amid strong domestic demand, offsetting a rebound in exports.

The Commerce Department said on Friday the trade gap increased 1.3 percent to $54.0 billion, widening for a fourth straight month. Data for August was revised to show the trade deficit rising to $53.3 billion instead of the previously reported $53.2 billion.

The trade deficit continues to deteriorate despite the Trump administration’s protectionist trade policy, which has left the United States locked in a bitter trade war with China as well as tit-for-tat tariffs with other trade partners, including the European Union, Canada and Mexico.

The politically sensitive goods trade deficit with China jumped 4.3 percent to a record high of $40.2 billion in September. Economists polled by Reuters had forecast the overall trade deficit rising to $53.6 billion in September.

When adjusted for inflation, the goods trade gap increased to an all-time high of $87.0 billion in September from $86.3 billion in August.

The government reported last week that the trade deficit subtracted 1.78 percentage points from gross domestic product in the third quarter. That was the most since the second quarter of 1985 and reversed the 1.22 percentage points contribution in the April-June period.

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President Donald Trump's trade war is already wiping out small American manufacturing businesses, and it will have a more negative impact on the US economy than most are expecting, economists at the Swiss banking giant UBS say.

Seth Carpenter, UBS' top US-focused economist, expects tariffs imposed by Trump on Chinese goods and China's retaliatory levies to halve the speed of gross-domestic-product growth in the world's largest economy.

"We are outliers compared to the rest of Wall Street in terms of how big an effect the tariffs have on the US economy," he said in London on Thursday at the launch of the bank's 2019 Global Economic Outlook. "We expect a material slowing in the fourth quarter of this year — so right now — into the first quarter of next year."

He pointed to official UBS forecasts, which see annualized growth at 1.7% in the fourth quarter and just 1.5% in the first quarter of 2019. The annualized growth rate in the third quarter, as reported by the US Bureau of Economic Analysis, was 3.5% — which already represented a slowing from the previous quarter and showed a significant negative impact from the trade war.

Most of the slowdown, UBS says, is likely to come in the manufacturing sector, which is much more sensitive to changing prices for raw materials. The impact is likely to be so acute that many new manufacturers are likely to go out of business.

Yet much of Trump's reasoning behind the trade war is to reinvigorate the US manufacturing sector.

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Originally posted by Steve Miller:
All this wining is wearing me out.

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Originally posted by Steve Miller:
All this wining is wearing me out.