Quick Shout: Aluminum Prices Are Down, Not Up

Despite the Aluminum Tariffs, Aluminum prices are DOWN 4%. People are surprised, I’m not! Lots of money coming into U.S. coffers and Jobs, Jobs, Jobs!

— Donald J. Trump (@realDonaldTrump) April 6, 2018

IT MAY WELL BE A SHORT TERM EVENT. IT MAY EVEN BE AN ANOMALY. REGARDLESS OF WHAT IT IS, THE FACT IS THAT ALUMINUM PRICES ARE DOWN, NOT UP, SINCE PRESIDENT TRUMP IMPOSED A 10% TARIFF ON IMPORTED ALUMINUM.

And POTUS is right to tout this, and to point that out, as he indeed did in a recent tweet.

I said a while back, after so much hoopla surrounding the president's decision to impose steel and aluminum tariffs that he knows what he is doing, and that when you get right down to the brass tacks of the matter...

Tariffs are not what this is all about. (If You Think Steel Tariffs Are About Steel Tariffs...You Are Missing the Point)

It is being reported that aluminum prices are down 4% since Trump announced he would impose the tariffs. I also said that you shouldn't be surprised that not everyone gets what these tariffs actually wish to achieve...

And beware anyone selling anything made out of steel or aluminum will gouge you with no foundation whatsoever for what they are doing—that they will do this based solely on the IDEA that all tariffs are bad, and that the only logical conclusion can be that tariffs will drive prices higher.

And yes, there is historical data to suggest that that could well be the case if what Trump wished to achieve was only to impose a tariff.

And as I said, that's not what his intention was at all. In the most basic of terms what I said was that Trump's intent was to level the playing field, force bad players to play fair, and more importantly to open a dialogue.

Like I said before, any prices on the end product are simply false increases. Reactionary increases. And pure gouging. The president has this, and I think it will be clear on all fronts when all is said and done that the market will stabalize, jobs will be left intact, and all of this chatter that we're creating a trade war and sinking our own ship will prove to be...

A pack of jibberish.