BREAKING: Trump Announces New Tariffs
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March 1, 2018Hmmm… I don’t know about this.
I understand the intent here… but I’m opposed to engaging in protectionist policies…
I’ll probably need more information before I really weigh in. All I’ve got is my gut right now… and my gut doesn’t like this…
According to the Daily Caller:
President Donald Trump announced Thursday a host of new “punitive” tariffs that will be implemented on Monday.
Trump made the announcement during a meeting with industry executives at the White House.
The rates for aluminum will be 10 percent, while steel will be affected at a rate of 25 percent, and have “no endpoint,” according to Fox News’ John Roberts.
.@realDonaldTrump announces punitive tariffs coming next week on foreign aluminum and steel. 10% on aluminum, 25% on steel – no endpoint being announced
— John Roberts (@johnrobertsFox) March 1, 2018
The president hinted at his reasoning for the tariffs in a tweet earlier Thursday morning.
“Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world,” he wrote. “We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!”
Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!
— Donald J. Trump (@realDonaldTrump) March 1, 2018
PS
The stock market doesn’t like tariffs. pic.twitter.com/xnr0eElnYm
— Ben White (@morningmoneyben) March 1, 2018
Thoughts?
