In June 2018, Trump’s booming economy delivered an additional 36,000 manufacturing jobs for American workers, many of whom have had their livelihoods destroyed by job-killing free trade deals like NAFTA and KORUS.
( CNBC ) San Francisco voters will decide in November whether to tax large businesses to pay for homeless and housing services, an issue that set off a battle in another West Coast city struggling with income inequality.
The city elections department verified Monday that supporters had collected enough signatures to get the measure on the ballot. It would raise about $300 million a year — doubling what San Francisco spends on homelessness — for more shelter beds and housing for people who are homeless or at risk of becoming so.
The money would come from an average half-percent tax increase on companies’ revenue above $50 million each year.
- Specifically, in the metals manufacturing industry, Trump’s tariffs on imported steel, aluminum, and Chinese electronics seems to have boosted U.S. job growth
More American manufacturing workers are employed today than at any time in the last ten years as President Trump’s ‘America First’ economy seeks to protect U.S. industry and jobs with tariffs, less immigration, and tax relief.
Specifically, in the metals manufacturing industry, Trump’s tariffs on imported steel, aluminum, and Chinese electronics seems to have boosted U.S. job growth — with 7,000 new jobs in manufacturing fabricated metal products, 5,000 new jobs in manufacturing computer and electronic products, and 3,000 new jobs in manufacturing primary metals.
America’s Richest Self-Made Women: country’s most successful self-made women entrepreneurs and executives
- At No. 1 is Diane Hendricks, a Wisconsin billionaire who owns ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America
- Eren Ozmen: “Look at the United States and what women can do here, compared to the rest of the world. That is why we feel we have a legacy to leave behind.”
( Forbes ) The combined net worth of the top 60 self-made women is now a record $71 billion, 15% more than in 2017. The minimum net worth to make Forbes’ fourth annual ranking of these top women jumped 23% to a record $320 million. Twenty-four of these women are billionaires, another record, up from 18 last year.
Seven newcomers joined the ranks (6 from California), including 4 Instagram-savvy makeup moguls. The richest of these new faces is billionaire Anastasia Soare, whose cosmetics company Anastasia Beverly Hills, best known for beautifying eyebrows, now has more than 17 million followers on Instagram. The youngest is Kylie Jenner, who turns 21 in August. Half-sister of Kim Kardashian West, who is also on the list for the first time, Jenner has leveraged her massive social media following (110 million followers on Instagram) to build a $900 million cosmetics fortune in less than three years. That makes her worth more than twice as much as her more famous sister.
At No. 1 is Diane Hendricks, a Wisconsin billionaire who owns ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America. While the vast majority of list members hail from California – 27 altogether – the top three, including Hendricks, Little Caesars’ Marian Ilitch and Epic Software’s Judy Faulkner, all hail from the Midwest.
Altogether 17 list members made their fortunes in fashion and retail, 7 of whom peddle cosmetics and skin care products. Another 13 including Facebook’s Sheryl Sandberg built fortunes in technology, while 10 including Oprah Winfrey and Taylor Swift made it in media and entertainment.
Read more: America’s Richest Self-Made Women 2018
( Forbes ) Kylie Jenner sits at a dark-wood dining table at her mother’s home in Calabasas, California, flicking through display options for a forthcoming pop-up shop. The youngest member of the Kardashian-Jenner industrial complex needs to decide how to showcase products by her Kylie Cosmetics makeup company. She taps her black iPhone X with a silver glittery nail and turns the screen around to show a coterie of employees a vending machine.
“You guys, imagine this, but all in lip kits,” says Jenner, dressed in a black blazer and matching black patent Louboutins with bright red soles. “I think it needs to be a clear vending machine where you see all the colors.”
…Just 20 when this story publishes (she’ll turn 21 in August) and an extremely young mother (she had baby daughter Stormi in February), Jenner runs one of the hottest makeup companies ever. Kylie Cosmetics launched two years ago with a $29 “lip kit” consisting of a matching set of lipstick and lip liner, and has sold more than $630 million worth of makeup since, including an estimated $330 million in 2017. Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at nearly $800 million. Jenner owns 100% of it.
MERKEL CAVES: Germany Says It’s Open to EASING TARIFFS on US CARS
( Hannity ) German Chancellor Angela Merkel announced this week that her government would be open to reducing tariffs on American-made automobiles; hoping to ease tensions between the European Union and the United States over car imports.
According to Reuters, Merkel signaled Germany’s willingness to slash taxes on US manufactured automobiles rather than see new tariffs placed on German cars entering the United States; primarily Mercedez Benz, Volkswagen, and BMW.
“I would be ready to support negotiations on reducing tariffs, but we would not be able to do this only with the U.S.,” she said, adding that all deals will be “common European position and we are still working on it.”
President Trump slammed the EU’s tariffs on US exports in recent weeks, saying “We are finishing our study of Tariffs on cars from the E.U. in that they have long taken advantage of the U.S. in the form of Trade Barriers and Tariffs. In the end it will all even out – and it won’t take very long!”
Granite City, Illinois, is seeing a renewed steel industry after Trump’s tariffs on steel imports were implemented. U.S. Steel plant is rehiring 800 steel workers—about half of which will be those who were laid off in 2015 and the other half will be new hires.
A Chicago Tribune report :
The opportunity afforded by the plant came to a halt at the end of 2015, when the plant idled production, laying off 2,000 people.
But the first blast furnace now has been restarted and U.S. Steel is filling 800 jobs at the mill, a result of the steep tariffs that President Donald Trump announced on imported steel and aluminum earlier this year. The Trump administration has in recent months imposed tariffs on goods from Canada, Mexico and China and on Friday imposed tariffs on $34 billion worth of Chinese imports. That country responded by levying tariffs of its own on American-made goods.
The energy shift
Nearly half of the returning 800 U.S. Steel jobs will be filled with employees who were laid off in 2015 when the plant was idled, according to spokeswoman Meghan Cox, who wouldn’t disclose salary ranges for the jobs. But there’s new blood, too, with about 56 percent of those positions going to new hires.
The restart is causing an influx of customers at Park Grill, which is adjacent to the plant and was hit hard after the 2015 layoffs. Some steelworkers eat multiple meals a day at the grill. Railroad workers, truck drivers and others who have jobs supporting the plant also stop in or place orders for burgers and barbecue sandwiches.
“I’m hoping that everything goes back to where it was, and I think it will,” Park Grill owner Mike DeBruce said. “I think it’s going to be stronger and better.”
( Breitbart ) The Trump administration postponed imposing the tariffs on Canada, the European Union, and Mexico until June 1, saying it wanted more time to try to negotiate agreements that might have allowed these countries to win exemptions from the tariffs. But none of those trading partners reached a deal with the U.S. by the deadline. The tariffs were imposed when the calendar flipped to June.
Yet there are few signs that the tariffs are having a negative effect on America’s metal using industries. In fact, American businesses that make the most use of metals are adding jobs at a rate that is four times as fast as the broader economy, according to data from the Department of Labor.
The fabricated metals sector–where workers transform metal into intermediate or end products other than machinery, computers and electronics, and metal furniture–added jobs in March, April, May and June. Over that period, employment in fabricated metals grew by one percent, compared with just a quarter of a percentage point growth in the broader economy. In June alone, fabricated metals added 7,000 jobs.