« Even though the administration has hinted at niche market exemptions, it has reiterated that no country will be exempt, » Currie added. « This diagnosis facets to three downstream industries as being potentially weak: motor automobile and trailer parts, can manufacturing, and to a lesser extent mushy drink manufacturing. »
To make certain, some on Wall Avenue live optimistic the president’s taxes will excuse key trading partners like Canada and Mexico despite the very fact the administration has but to assemble a finalized, written proposal.
Trump’s Commerce Division has cited Half 232 of the 1962 Alternate Growth Act in making its recommendation for tariffs. Division leaders contend that the dumping of low price steel and aluminum from China and other countries puts U.S. competitors out of industry, risking nationwide security.
« Here is the irony of Half 232, » concluded Currie. « A tariff intended to enhance U.S. industry can also discontinue up boosting margins and investment for a minute subset of producers while leaving the broader economic system at a disadvantage via bigger costs. »
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