The practical effect of the tariffs will be small, so why did Trump do it? The answer is: politics
On Thursday, Donald Trump announced a 25% tariff on steel and a 10% tariff on aluminum, likely excepting Canada and Mexico – and perhaps America’s strategic partner Australia in due course. It was, of course, a shocking thing.
When was the last time a US president did such a shocking thing? Well, actually it was in the first week of March 2002, at exactly the same point in a presidential first term. The president was George W Bush, of the Republican party, and the steel tariff he imposed was 30%. And before that? Ronald Reagan, with his “voluntary export restraints”.
Continue reading...from US news | The Guardian http://ift.tt/2oX4yKZ
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