Protectionism: what is Trump doing by reviving the steel war

Thursday 1 er March, the announcement of Donald Trump to overtax imports of steel (+ 25%) and aluminum (+ 15%) is not only unjustified . It may be counterproductive. While the US economy is in great shape, nothing grounds a decision that reassures the Republican base, but divides the party. Wilbur Ross, Secretary of Commerce, is for. But Gary Cohn, director of the National Economic Council, is against this directive, which first strikes the allies of the United States (Canada, United Kingdom, Germany) and only penalizes the Chinese scarecrow (10 e exporter of steel on American soil). Oukase even makes Peking, prompt to denounce this sprain to freedom, the herald of an open international trade.

"No big country without steel industry" insists the American president, ready for a trade war "easy to win" . Not sure. The speed with which the European Union has threatened America with retaliation is a measure of the danger of a protectionist spiral that would affect the entire industry. In 2002, a similar decision by George W. Bush resulted in the loss of 200,000 jobs in the steel-consuming industries …

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