Hi Dopey
Trump has been tweeting that the tariffs will be broadly applied. Allies don't get special treatment.
I do get it that the EU and Chinese trade barriers have been ridiculously high in many sectors and so I do understand where team Trump is coming from. US tariffs will however hurt the US economy in the first instance. Tariffs are clearly not the answer.
The US does not need a major steel industry. Mexico, Canada and Brazil can if required ramp up to supply US demand. I don't know how China even got into the discussion of US Steel. Secondly I'm not sure how labour intensive a modern steel industry is. My guess is that any new mill would be largely automated.
Assuming this policy is a distraction to win the red neck vote in 20-20 it will be a very expensive distraction. A amongst other things it will increase the cost of production of US cars, ships, and heavy machinery and building materials.
cheers
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Hi Dopey Trump has been tweeting that the tariffs will be...
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