New York Times (March 11)
“A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared.” The EU will respond with “$28 billion in retaliatory levies next month on American products, including bourbon, jeans and agricultural products.” While EU officials “hope they can still strike a deal…. President Trump seems determined to stick with his protectionist policies.” Immediate market reaction was muted, though “the sell-off has wiped roughly $4 trillion off the benchmark index in less than a month — as concerns grow that the levies will push up prices and slow growth.”
Tags: $4 trillion, Agricultural products, Aluminum, Bourbon, EU, Growth, Jeans, Market reaction, Prices, Protectionist policies, Retaliatory levies, Sell-off, Steel, Tariffs, Trading partner, Trump, U.S.
