‘Today is a bad day for world trade’: Trump slams U.S. allies with tariffs
by Doug Palmer (feat. Colin Robertson)
May 31, 2018
President Donald Trump's move to slap penalties on imports from U.S. allies and China is moving the country to the brink of a global trade war — with U.S. consumers, farmers and manufacturers caught in the middle — as the White House tries to wrest concessions from reluctant trading partners.
The Trump administration will impose new duties on steel and aluminum imports from three key trading partners — the European Union, Canada and Mexico — after failing to reach deals with them to address national security concerns related to the imports, Commerce Secretary Wilbur Ross said Thursday.
The decision has implications for farmers in key Midwestern states who will see their exports crimped, consumers who are expected to pay more, workers who may see cost-cutting in export-heavy industries and global relations with crucial trading partners as the U.S. tries to exert pressure on China.