WEST SACRAMENTO CA (IFS) -- Tariffs is a word that causes havoc all across the world with trading parters. These are wars that do not end well with anyone. President Trump's must have needed a vehicle to "coverup" his very bad day, and this was a good one. The Stock Market dropped liked a ballon made of lead. The Trickle down theory on metals in manufacturing and world trade is enough to dislounge governments and cause real wars. I am waiting for the President to name a planet where any trade war was easy to win.
The word is "retaliation" and it really hurts years later. Everything goes up and it gives many manufacturers the opportunity to move their operations to other countries and ship back to the United States.
US President Donald Trump has said "trade wars are good", amid controversy over his decision to impose tariffs on steel and aluminium imports.
He tweeted that the US was "losing billions of dollars on trade" and would find a trade war "easy to win".
On Thursday he said steel imports would face a 25% tariff and aluminium 10%.
Canada and the EU said they would bring forward their own countermeasures. Mexico, China and Brazil have also said they are considering retaliatory steps.
Critics argue that the tariffs would fail to protect American jobs and would ultimately put up prices for consumers.
The news sent shares in both Asia and Europe down on Friday.
The main trading partners of the US have reacted angrily after President Donald Trump announced plans to impose tariffs on steel and aluminium imports.
Canada and the EU said they would bring forward their own countermeasures to the steep new tariffs.
Mexico, China and Brazil have also said they are weighing up retaliatory steps.
Mr Trump tweeted that the US had been "decimated by unfair trade and bad policy". He said steel imports would face a 25% tariff and aluminium 10%.
However, critics argue that the tariffs would fail to protect American jobs and would ultimately put up prices for consumers.
The news sent shares in Asia down on Friday, with Japan's benchmark Nikkei 225 losing more than 2% by mid-morning.
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