President Donald Trump on Thursday said that the United States will slap tariffs on steel and aluminum imports from around the world — and the world has something to say back to Trump.
Tariffs will amount to 25 percent on steel imports and 10 percent on aluminum imports, and could go into effect as early as next week. Since the announcement, concerns of retaliation and a trade war have flared globally, and companies are warning that they will suffer as a result.
Here’s what’s being said about Trump’s move, across the world.
Wall Street Journal: The WSJ calls Trump’s move “the biggest policy blunder of his Presidency.” The immediate impact, it said, “will be to make the U.S. an island of high-priced steel and aluminum.”
BBC: The BBC asked what impact these tariffs really has, and said that any trade war could put the future of many industries in limbo.
South China Morning Post: We’ve already had a trade war for the last four decades. And guess what — China has already won, the SCMP says.
Australian Broadcasting Corporation: Owners of U.S. steel and aluminum mills excluded, you would be hard pressed to find anyone who thinks the tariffs are a good idea. It is not great for Australia, but terrible for the U.S., ABC said.
China Daily: America’s new protectionism is risking international trade discord. It suggests that the Trump administration is willing to subsidize American steel and aluminum, even at the expense of far bigger and more consequential US industries, said the paper.
New York Times: The real risk isn’t a higher price for metals, said The Times, but that the global trade system might be undermined.
Vanity Fair: Besides going against the advice of nearly all his advisers, and likely alienating important allies, Trump is also putting countless jobs at risk, says Vanity Fair.
The Washington Post: It declares that the tariffs will hurt everyone, the U.S and its metals industries included.
This article was originally published on www.cnbc.com