The 10% tariff on aluminum that President Trump just re-imposed on Canada will hurt downstream US aluminum manufacturers and benefit Chinese and Russian producers of raw aluminum. The president’s restrictions on Chinese spy technology, by contrast, are welcome. The weekly trade report with L.C. On August 6th, President Trump signed a “Proclamation on Adjusting Imports […]
US postponing tariffs by month but not for TPP leader Japan
Trade correspondent L.C. writes: At the very last moment Monday night, the Trump administration announced that it will be postponing for another month its threatened tariffs against the European Union, the two NAFTA partners of the US (Canada and Mexico), and three other countries (Argentina, Australia, and Brazil). But no tariff relief has been afforded […]
Trump tariffs freeze investments, split Republicans, hurt allies, boost China
President Trump announced 25% steel tariffs and 10% aluminum tariffs in the name of military security. The tariff announcement will freeze US investments, split Republicans, hurt US allies (especially Canada), and boost the influence of China as an economic, diplomatic, and military power. The Trump tariffs, however, have near unanimous Democratic Party support. A U.S. […]
US, European, Japanese markets down sharply after tariff announcement
President Trump in an impromptu press meeting at lunchtime yesterday announced that he was imposing 25% tariffs on all imports of steel and 10% tariffs on aluminum. The US stock market promptly fell over 2%. In conjunction with two days of previous market drops this erased all the stock market gains of 2018. This Friday morning […]
