The U.S. Has Decided To Fight Trade Wars With China, Europe, Canada And Mexico Simultaneously, And That Will Be Disastrous For The Global Economy

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The U.S. Has Decided To Fight Trade Wars With China, Europe, Canada And Mexico Simultaneously, And That Will Be Disastrous For The Global Economy

Post  kelee877 on Thu May 31, 2018 7:48 am

The U.S. Has Decided To Fight Trade Wars With China, Europe, Canada And Mexico Simultaneously, And That Will Be Disastrous For The Global Economy

One trade war may be enough to push the struggling global economy into another recession, but the U.S. government has apparently decided that it is time to fight trade wars with pretty much all of the major economies around the world at the same time. This is utter insanity, and it is going to have disastrous consequences that will be felt all over the planet. Yes, we need to get tough on trade. If you have followed my work for the last eight years, than you know that I have been a very strong advocate of protecting U.S. manufacturers and U.S. workers. But these things have got to be handled delicately, because any significant disruption at this point could lead to an absolutely crippling global economic crisis. Negotiating on an international level requires a great deal of finesse, because if you mess up it can have monumental consequences. For example, one thing that you shouldn’t do is make an agreement with the second largest economy in the world and then tear it up less than two weeks later…

The odds of a messy trade war between the United States and China are rising again.

The Trump administration shocked the world on Tuesday by tearing up a truce with Beijing and announcing it would impose tariffs on $50 billion worth of Chinese goods and restrict Chinese investment in the United States.

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kelee877
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Re: The U.S. Has Decided To Fight Trade Wars With China, Europe, Canada And Mexico Simultaneously, And That Will Be Disastrous For The Global Economy

Post  kelee877 on Thu May 31, 2018 9:19 am

Trump to remove tariff exemption from EU, Canada, Mexico

The White House announced that it would end a two-month exemption for the EU, Canada and Mexico from the 25% steel and 10% aluminum import tariffs announced in March, once again pointing to national security concerns as a primary motivating factor.

U.S. Commerce Secretary Wilbur Ross said during a call with reporters on Thursday that slow progress on the NAFTA renegotiation is another reason why Canada and Mexico will now be subject to the import tariffs.

The tariffs will go into effect on the trio of countries at midnight.

The decision sparks new concerns of a trade war with three of the United States’ most important trading partners.

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