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How Trump’s Unreasonable Tariffs on Steel and Aluminum Could Trigger International Trade Wars
How Trump’s Unreasonable Tariffs on Steel and Aluminum Could Trigger International Trade Wars
Time icon23 March 2018, 15:03 pm

Could President Trump’s “America First” policy be shaping itself as the unexpected trigger for an international trade war? That seems a likely scenario, considering his recent plan to impose very strict and (according to many) unreasonable tariffs on all steel and aluminum imports, starting on the 23rd of March 2018. 
 

Why Experts Believe the New Tariffs Will Hurt Everyone In the Industry

Finance ministers from all over the world have been struggling vigorously to get their own countries exempted from these financially damaging tariffs. The United States government, however, seemed adamant to grant absolutely no exceptions – not even to the European Union and certainly not just for the sake of expressing political goodwill, much to the dismay of all involved negotiators. 

President Trump made a point of stating the new tariffs would indeed be approved, and they would remain in place for a long time. According to an investigation recently concluded by his Commerce Department, metal importations had been posing a threat to the U.S. national industry; guided by this report, Trump resolved to press on with his early promises to take action and put America first… regardless of whether other governments might directly suffer from the decision.

 

What Will Actually Happen Now That Trump’s Tariffs are in Place?

The widespread belief held by international experts is the violent new tariffs will negatively impact everyone involved in the steel and aluminum industry, including the United States of America. 

According to Steven Mnuchin, the United States Treasury secretary who has been heading the financial meetings around this matter, the US Government remains fiercely determined to proceed with their original plan, thus paying no heed to the complaints and warnings manifested by worldwide economy leaders. Only time will the exact implications of this rather stubborn and controversial position, but a financial trade war is clearly on the horizon.

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