Donald Trump: Trade Wars Are ‘Good and Easy to Win
“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win” a tweet by US president led to global sell-off in steel and aluminium manufactures shares on Friday.
The reason behind this tweet is, Trump announced on Thursday that he will impose a 25percent tariff on steel and a 10 percent tariff on aluminium as early as next week in an effort to force partners into “fairer” trade agreements.And Trump’s tweet appears to indirectly refer to China, which has huge expansion plans in the steel industry and may drive the steel prices down. Have a look at this video.
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