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The U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum, the president said. It is unclear whether they will apply to all imports or only metals from certain countries.
"That could really spook the market," said Marc Chaikin, CEO of Chaikin Analytics. "The biggest wildcard would be a trade war and nobody should be excited for that." Chaikin also noted some of the pressure seen in stocks is in response to the news on tariffs.
You gotta crack a few eggs if you wanna make an omelette. If this scares you, close your eyes for a couple months because he's going to pull out of Nafta soon.
You gotta crack a few eggs if you wanna make an omelette. If this scares you, close your eyes for a couple months because he's going to pull out of Nafta soon.
Probably true. At least you admit there are some broken eggs. I'm not sure pulling out of NAFTA is good or not. (Feel free to convince me its good), but I think the steel and aluminum tariffs are VASTLY overdue. And it would have been a lot less painful for everyone if we had responded when the issue first occurred. This is one of those cans that kicking down the road made it so much worse. And ignoring it was not started with Obama. Its been a ongoing issue no matter the administration.
Most of the nations of the world became great from mercantilism. But they needed to wage wars to protect their captive markets and colonies, culminating in WW1 and WW2. So there were some trade-offs (no pun intended).
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Quote:
Originally Posted by Mason3000
You gotta crack a few eggs if you wanna make an omelette. If this scares you, close your eyes for a couple months because he's going to pull out of Nafta soon.
And sometimes you drop the bowl and there is no omelette.
Trump just casually threw it in there as a part of his televised meeting, and the stock market started nose diving minutes after it. Keep those meetings behind closed doors, so they can edit out harmful details before releasing to public.
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