Tuesday, March 6, 2018

Trade War Over Steel? Gimme A Break...

So Trump throws up this firecracker about import duties on steel (25%) and aluminum (10%).  It’s a non-issue folks, despite hot air from Brussels about retaliation via Levi’s, Harleys and Jack Daniels. (Notice that the Chinese haven’t said a word - and rightly so).

Fact is, the US hardly imports any steel from the EU or China, as you can see from the graphic below.

Now, if Mr. Trump starts talking about consumer electronics, that would be an issue.  But in an economy completely dominated by the likes of Apple, Google, Microsoft and Amazon imposing duties on their products would be plain suicide and it won’t happen.




3 comments:

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  2. There's a reason Tillerson among others close to Trump have called him an idiot. I give him more credit than that, I call him an idiot-savant. He certainly knows how to rouse the rabble.

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