You forgot to include the <s> sarcasm </s> tag for
No one... no one... could have seen this coming...
'Trade wars are good, and easy to win,' Trump tweets
Steel and aluminum tariffs could kick off trade war as other countries retaliate
Pete Evans · CBC News · Posted: Mar 02, 2018 9:47 AM ET
That has kicked off a flurry of fears that the rest of the world will respond in kind to U.S. exports, which would grind the global economy to a halt as protectionism washes over the gears of trade.
As Bank of Montreal economist Sal Guatieri put it, "The tariff will only fan concerns about inflation and interest rates, while also undercutting U.S. growth if spending power takes a hit and other nations retaliate."
"While Donald Trump considers himself pro-business, the imposition of tariffs across the aluminum and steel sector has led to fears over a collapse in global trade," said Joshua Mahony, market analyst at IG.
Trump's words brought a stinging rebuke from the president of the European Commission, Jean-Claude Juncker, who denounced his plan as "a blatant intervention to protect U.S. domestic industry." Juncker said the EU would take retaliatory action if Trump followed through.
While not immediately offering a specific response on what it would do, the Chinese Commerce Ministry statement said: "The Chinese side expresses grave concern." The ministry said Beijing has satisfied its trade obligations and appealed to Washington to settle disputes through negotiation.
cbc.ca |
