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Tariffs lead to Trade Wars?

Fathom · 2018-07-11 00:02:50

Tariffs are taxes. The Trump administration issued 25% duties on steel and aluminium from Canada, Mexico, and European Union. Will retaliations be countered by retaliations leading to a trade war? Add China tariffs by US, and retaliations. What will be the short, middle, and long term GDP consequences for nations and EU?…

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11-07-2018 1:02am

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Fathom

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Tariffs are taxes. The Trump administration issued 25% duties on steel and aluminium from Canada, Mexico, and European Union. Will retaliations be countered by retaliations leading to a trade war? Add China tariffs by US, and retaliations. What will be the short, middle, and long term GDP consequences for nations and EU? NAFTA? Inflation? Recession? Or only marginal consequences?

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