President Trump continues his pattern of tariff threats and annexation suggestions this week.
The week started with the announcement of a policy to impose 25 percent tariffs on steel and aluminum imports, in addition to the existing 25 percent tariffs on Canadian exports. If both are implemented, the rate on steel and aluminum will reach 50 percent.
President Trump has instructed his advisers to come up with new tariffs that address trade barriers and unfair economic practices by U.S. trading partners. This includes tariffs, taxes, subsidies, and exchange rates.
Some U.S. business leaders, like Ford’s chief executive Jim Farley, have expressed concerns about the potential impact of these tariffs on the industry.
Canadian officials have been lobbying in Washington against the tariffs, but face challenges in changing minds within the Trump administration.
U.S. Trade Representative Robert E. Lighthizer, a key figure behind Trump’s tariff actions, has been critical of free trade agreements, including trade with Canada.
Lighthizer proposes a new global trading order that would split the world’s economy into two groups, with different tariff policies depending on trade balances.
Critics argue that high tariffs could lead to increased prices for Americans and potential economic challenges.
Lighthizer einfach behauptet, dass die Ökonomen falsch sind.“