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President Trump’s radical prices on foreign steel and aluminum entered into force on Wednesday, inviting immediate reprisals of the European Union and degenerating tensions with other business partners in shock from his approach to walking and commercial penalties.
Trump’s prices of 25% have struck metal imports from all countries that sell steel and aluminum to the United States. Many national steel and aluminum manufacturers support this decision, saying that this will help protect their industry from foreign competitors. But prices should increase costs for American companies that use foreign metals, including car manufacturers, food and canned drinks, solar panels and other products.
Some trade partners have promised to retaliate by issuing samples aimed at injuring American exporters. Canada, a large metal supplier in the United States, said it would impose new reprisal rates at $ 20 billion in American imports, including metals, computers and sports items. And the European Union quickly announced prices for up to $ 28 billion in American products, including Bourbon, boats and motorcycles.
These conflicts could transform into even larger commercial wars. Asked on Wednesday if he was going to fight back against EU prices, Trump said: “Of course, I will answer.”
Many other governments – such as Japan, Australia, Mexico, Brazil and Great Britain – have chosen not to react, at least for the moment, for fear of worsening relationships and impact on their own economies. These countries are also giring for the next series of Trump prices on April 2, when the president said he would impose prices on foreign cars and countries that discriminate the United States.
Trump’s recent trade movements have shaken the stock markets and exacerbated the concerns about the economy. The stock markets moved between gains and losses on Wednesday while investors weighed concerns concerning prices against better inflation data than expected for February. Analysts have warned that Mr. Trump’s radical plan for prices could push higher inflation in the future and slow down the economy.
(Tagstotranslate) Customs (Tariff) (T) Steel and Iron (T) Aluminum (T) Metals and Minerals (T) Protectionism (Trade) (T) Trump (T) Donald J (T) Canada (T) European Union (T) Trade and Global Market (T) International Relations United (T) American economy in the United States
Source: www.nytimes.com
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