By raising tariffs on steel and aluminum the US president has proudly delivered on a campaign promise. US steel and aluminum producers gain, but it comes at the expense of US metal consuming firms.
Summary
- By raising tariffs on steel and aluminum the US president has proudly delivered on a campaign promise.
- US steel and aluminum producers gain, but it comes at the expense of US metal consuming firms. Foreign metal producing countries also stand to lose. Canada, Mexico, and Australia may be exempt from the metals tariff, turning them into winners. The overall economic impact is limited.
- The real threat is that the measures are a prelude to a global trade war, especially now that advisors of the US president with strong protectionist views have gained the upper hand. A new trade environment looms.
Read the full report here: Trump Tariffs Threaten Trade
