No one should be surprised at this….
Despite warning’s and doubts expressed from his own party and leaders of other countries?
Trump is doing what he has done for years….
Go hard at anything he wants….
American Consumers he warned along with farmer and manufactures will have to suffer while he does his this….
He simply doesn’t give a shit….
The American Stock market has dropped, so has the Canadian since the announcement of trade war action….
The countries involves have vowed to fight back with their own tariff and fee’s against American goods and services….
Trump IS staying true to his campaign to enact a Foreign Policy that ‘ goes at it alone’ (Nationalism) against the world….
But in doing so?
He isn’t making America “Great’ at all…..
Will American import prices rise?
Stay tuned….
This COULD get sticky….
The Trump administration has decided to impose steel and aluminum tariffs on European countries as well as Canada and Mexico, the AP reports.
Why it matters: Trump’s trade war now extends far beyond China, and is hitting the closest U.S. allies. The E.U. is ready to hit back with tariffs on products including Harley Davidson motorcycles and Kentucky bourbon. The news also comes amid NAFTA negotiations with Canada and Mexico.
U.S. stocks fell and Treasuries rose after the Trump administration said it will slap tariffs on goods from key trading partners.
The S&P 500 Index dropped for the second time in three days after Commerce Secretary Wilbur Ross said the U.S. will impose levies on steel and aluminum from the European Union, Mexico and Canada. Mexican and EU officials said they will retaliate. Stocks in Europe fell and the euro erased gains. The yield on 10-year Treasuries fell to 2.83 percent, while the dollar turned higher.
Trade tensions looked set to boil over again Thursday as the Trump administration took action against key allies who said they will respond. The dispute shifted focus from ongoing political turmoil in Europe ahead of Friday’s jobs report that will bring clues of the Federal Reserve’s next policy move.
“We are going to be filled with tremendous uncertainty over the course of the summer,” David Ader, chief macro strategist at Informa Financial Intelligence, told Bloomberg Television. “I don’t see that at this point in time we have a big directional play. I see a lot of uncertainty, which results in a lot of volatility.”
In Asia, Hong Kong and Chinese stocks outperformed after China’s official factory gauge underscored robust growth despite ongoing trade tensions…..
Note….
The Chinese markets have NOT suffered against Trump’s trade moves so far….
This should cause some concert to America…
China is second to the US in it economy….
Could Donald Trump’s moves actually help the Chinese close even closer to America’s economy?
In case you were wondering how a drop in overall demand and production of aluminium might affect the producers of bauxite, here’s Wikipedia’s list for 2017 (in thousands of tonnes = Metric Tons = 2,205 pounds, produced):
One might not weep too much for, say Russia or China, but Australia, Brazil, Jamaica, India and Indonesia, for example, are friendly countries that the U.S. should not want to hurt gratuitiously:
World 300,000 (i.e. 300 million metric tons)
1 Australia 83,000
2 China 68,000
3 Guinea 45,000
4 Brazil 36,000
5 India 19,000
6 Jamaica 9,800
7 Kazakhstan 5,500
8 Russia 5,300
9 Suriname 2,700
10 Venezuela 2,200
11 Greece 2,100
12 Guyana 1,800
13 Vietnam 1,000
14 Indonesia 500
Other Countries 4,760
https://en.wikipedia.org/wiki/List_of_countries_by_bauxite_production
(Also has a handy map of bauxite-producing zones)
I don’t think Trump has any idea about what have pointed out DSD…..
Thank’s anyways….
Finance ministers from the G7 expressed “disappointment” over unilateral trade actions taken by the US government, and they asked US Treasury Secretary Steven Mnunchin to communicate their concerns to President Trump.
The six finance ministers said in a joint statement after meetings Saturday in Whistler, British Columbia, Canada that “decisive action” is needed following the Trump administration’s decision this week to impose steel and aluminum tariffs on its closest allies. Canada, the European Union and Mexico all announced plans to retaliate.
They asked Mnuchin to express their “unanimous concern and disappointment” to President Donald Trump and said discussions should continue at a G7 leader’s summit next weekend…..
More….
G7 = US, Canada, Japan, Germany, Italy, France & UK [+ the EU]
Incidentally, exactly the allies the U.S. needs for any sanctions régime or (Japan possibly excepted) multilateral military interventions such as those in Kuwait or Afghanistan
Yup…..
Trump’s Foreign Policy at it’s BEST!…..
Make America Great?
No….
‘Show ME the money!’