The introduction of tariffs on imports of aluminum and steel is a huge slight to America’s trade partners, sows financially damaging uncertainty and risks retaliations that could result in a trade war, infer Jacob Hanke and Hans Von Der Burchard of Politico. Trump’s rhetoric in criticizing the EU worries its members and could hurt business with the US. Even local entities, like agricultural groups and car companies, have criticized the tariffs. Their costs could go up significantly in ways that would fall on consumers.The EU is musing 25% tariffs on 2.8 billion euros worth of US products. This is not how international trade should be managed.
The current system of international trade goes against US interests. Tariffs on steel and aluminum are a correct response, as they signal that America won’t tolerate this imbalance any more, argues Stephen Moore of The Washington Times. China, in particular, pirates American intellectual property, drugs and technology. Tariffs that hit it hard are an adequate retaliation. A trade war is unlikely to happen as it would hurt others more than the US, which simply hasn’t been earning what it’s worth on the global market. Trump is correctly ensuring that it isn’t taken advantage of. The tariffs remind our trade partners who’s really in charge.