SouthViews No. 166, 16 March 2018
Trump’s launch of a global trade war
By Martin Khor
Last week’s action by President Donald Trump has ended the United States’ leadership on liberal trade and may trigger a global trade war with major damaging consequences. On 8 March, Trump signed a proclamation to raise tariffs of steel by 25% and aluminium by 10%. It sent shockwaves across the world not only because of the losses to metal exporters, but due to what it could well signify: the start of a global trade war causing economic disruption in many countries, and that may also damage if not destroy the multilateral trade system.
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This article was tagged: Aluminium, Global Trade War, International Taxation, President Trump, Steel, Tariffs, United States (US)