In a response to President Donald Trump’s announced tariffs on steel and aluminum, Europe is set to retaliate with tariffs on American-made … wait for it … peanut butter:

What a dumb trade war.

But is it a trade war that we’re already winning?

From the U.S. Steel announcement:

“Our Granite City Works facility and employees, as well as the surrounding community, have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets,” said U. S. Steel President and Chief Executive Officer David B. Burritt. “The Section 232 action announced by President Trump last week recognizes the significant threat steel imports pose to our national and economic security. The President’s strong leadership is needed to begin to level the playing field so companies like ours can compete, win and create jobs that support our employees and the communities in which we operate as well as strengthen our national and economic security. We will continue to support our customers with the high-quality products they have come to expect from U. S. Steel.”

The company expects to call back approximately 500 employees starting this month. The process could take up to four months.

And it’s looking more and more likely that this “trade war” won’t be that big a deal:

And we should note that Trump’s plan will have broad appeal from Dems, like this endorsement from Sen. Sherrod Brown of Ohio:

According the Axios, Trump wants to start the “trade war” tomorrow:

And its likely Trump will add sanctions against China over IP theft:

According to reports, the action on China is “lined up and (almost) ready to go”:

***

Related: