April 20, 2018 — President Trump enacted steel and aluminum tariffs in March, citing national security. China is the intended target, as most other major suppliers were eventually exempted. On April 2, China retaliated by imposing tariffs on 128 American products (representing about $3 billion of trade), ranging from 15% on fruits to 25% on pork. Trump on April 3 announced 25% tariffs on another 1300 Chinese products representing some $50 billion of trade, citing forced transfer of US technology and IPR. China on April 4 responded with plans for retaliatory 25% tariffs on 106 US exports — including soybeans, autos, and airplanes — to go into effect when the US tariffs do. On April 5, the White House announced it was considering $100 billion of additional tariffs on China.
Category Archives: Trump Administration
Trump’s Steel Tariffs
March 26, 2018 — Caijing Magazine asked me the following questions about US steel tariffs on 3/14.
- Do you see trade wars coming or they are already here? Will it be easy for the US to win trade wars as President Trump said?
Answer: I see trade wars lurking around the corner. They are not yet here for sure. But recent developments are very worrying.
Of course it will not be easy for the US to win a trade war. This is one of the most foolish things Trump has said
“Trump Tariffs Will Do Harm, Experts Say”
March 9, 2018 — PBS NewsHour asked some of us six questions about the new tariffs. My responses appear below. The others’ are at: “Trump’s tariffs will do more harm than good, experts say,” March 8.
PBS: Would President Trump’s proposed tariffs on steel and aluminum imports help create more jobs in the United States, as he argues?
JF: The import tariffs are likely to create a few jobs specifically in the US firms that make steel and aluminum. The important point, however, is that such positive effects will be far outweighed by negative effects on other sectors.
