Trump's tariff moves send challenge to the trade status quo
In the United States and overseas, the Trump administration’s new plans to place sizable tariffs on steel and aluminum imports have caused shock and dismay.
Stock markets have reeled. Longtime trade partners are threatening retaliation. Critics say such “protectionism” could spark a trade war.
Yet President Trump has cited protection of industry as a virtue amid a global glut.
“You will have protection for the first time in a long while, and you’re going to regrow your industries,” he told US metals-industry leaders Thursday. The tariffs of 25 percent on steel and 10 percent on aluminum “will be for a long period of time.”
The differing views of protection mark an age-old debate about trade
Why is Trump aggressive?A changed economy