EU, Canada and Mexico condemn Trump move to hike steel and aluminum tariffs
EU, Canada and Mexico condemn Trump move to hike steel and aluminum tariffs
Summary
The U.S. will impose 25% tariffs on all steel and aluminum imports starting March 12, eliminating previous exemptions.
This move has been met with strong condemnation from key trading partners, including Mexico, Canada, and the European Union, who have threatened retaliatory measures.
Businesses across various sectors are grappling with the potential impact, facing increased costs and uncertainty about future investments and supply chains.
The tariffs are against everyone so there's nothing to retaliate: in 3 weeks there's definitely no time to build again steel/aluminum supply chain in the states. This will be 100% paid by American citizens and other countries will continue to export to the USA with almost no change in short term. Maybe in medium/long term
Nice to see the EU joining in
put tariffs on high value appliances such as Laundry Machines; Dryers and TVs. We can import them from Mexico and Asia directly
He did that already in 2018 and they expired in 2024.
https://www.aeaweb.org/articles?id=10.1257/aer.20190611
Tariffs resulted in a pass through cost greater than 100%.
They also find the employment effect (1800 jobs, not 2000) but the cost to the public of those jobs was $800,000+ each.