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Politics : Formerly About Advanced Micro Devices

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To: locogringo who wrote (1054427)	2/14/2018 6:39:26 AM
From: SeachRE	Read Replies (3) of 1576892

President Donald Trump’s zeal for new a round of tariffs is running into cold, hard economic and political reality: lawmakers from his own party who think it’s a bad idea. Twice this week Trump has raised the idea of trade penalties he calls a “reciprocal tax,” only to have White House officials insist there’s no plan in the works for such an action. During a televised meeting at the White House on Tuesday, Republican lawmakers told Trump the new tariffs he’s mulling for aluminum and steel imports would likely do more harm than good, costing greater jobs among automakers and manufacturers than they protect. Penalties raising the cost of aluminum and steel imports alone could reverberate through the economy, hiking up prices for everything from aircraft to electrical wiring and beer cans. The prospect of a trade war with other major economies could further rattle financial markets already unsteady over concerns about inflation and interest-rate increases. Trump has had to balance those realities with his own protectionist campaign rhetoric and calls from his political base for action that matches it.(Bloomberg)

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