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:
— Washington Examiner (@dcexaminer) March 7, 2018
What a dumb trade war.
But is it a trade war that we’re already winning?
— Rob Edwards (@RobertDEdwards) March 7, 2018
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:
— CNN (@CNN) March 7, 2018
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:
Trump is ‘impatient’ and wants to start his trade war tomorrow by signing a presidential proclamation to set his tariffs in motion, two senior administration officials tell Axios. https://t.co/1adYrbJdWo
— Kyle Griffin (@kylegriffin1) March 7, 2018
And its likely Trump will add sanctions against China over IP theft:
The U.S. is acting swiftly on Intellectual Property theft. We cannot allow this to happen as it has for many years!
— Donald J. Trump (@realDonaldTrump) March 7, 2018
According to reports, the action on China is “lined up and (almost) ready to go”:
Exactly. They had the 301 action lined up and (almost) ready to go before Trump surprised everyone w the 232 (Steel and tariff) announcement. 301 = tariffs on potentially hundreds of Chinese products to retaliate against China’s theft of American IP. https://t.co/VEi9WoQgfp
— Jonathan Swan (@jonathanvswan) March 7, 2018
Breweries hardest hit? MillerCoors says Trump's tariff on aluminum could cost jobs https://t.co/lZGwChwYXs
— Twitchy Team (@TwitchyTeam) March 1, 2018