- Joined in 2008
https://www.nytimes.com/2018/03/01/busi ... riffs.html
Imposing tough sanctions would fulfill the president’s promises but could tip off trade wars around the world as other countries seek to retaliate against the United States. Foreign governments, multinational companies and the Pentagon have continued to push against broad tariffs, arguing that the measures could disrupt economic and security ties.
Brazil, Canada, Germany, Mexico and South Korea were the largest suppliers of steel to the United States in 2017, while Canada, Russia and the United Arab Emirates shipped the largest share of aluminum imports in 2016.
On Thursday, Canada, the European Union and other countries said they might have no choice but to retaliate in response.
Basically, because is effectively levying a tax on all incoming steel, other countries affected by this (listed above) will start considering levying their own tariffs to make up the short-coming. This could mean US imports will be taxed more heavily or, like the Electrolux deal, companies will simply stop dealing with the US.
It's foolhardy, braggadocios and incredibly dangerous for American industry.
t: @Tafdolphin | Twitch: Tafdolphin