“We’re not backing down” from a trade war, says President Trump, who’s sticking by his decision to impose tariffs on all imported steel and aluminum, without exemptions for U.S. allies. But Trump is pretty isolated. Even House Speaker Paul Ryan is “urging the White House not to advance with this plan.” New reports say that while tariffs will create some jobs in these sectors, they will cost 179,000 American jobs.
The European Union may retaliate with tariffs of their own on American-made Harley Davidson motorcycles, bourbon, and jeans—which happen to hit the home states of Paul Ryan, Mitch McConnell, and Nancy Pelosi. Mr. Art of the Deal then threatened further escalation on Twitter, saying he would “simply apply a tax on their cars, which freely pour into the U.S…”
From Brian Beutler: What do President Trump’s proposed tariffs have to do with Russia? Possibly nothing! Trump has been anti-trade for a long time. He’s actually consistent on it. Protectionism, racism, and authoritarianism—he’s always been a fan.
But what’s also true is that Russia wants to divide the U.S. and Europe, and a trade war would do just that. And because Trump hasn’t revealed almost anything about his finances, we have no idea whether Trump is imposing tariffs for legitimate reasons or corrupt ones (same goes for imposing sanctions on Russia, or refusing to criticize Putin). If we don’t know whether someone like Putin has leverage over Trump, we can’t trust decisions our government makes.
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