Thread by @Otpor17

If you were lucky enough to get part of the 13% of the tax cut that went to bonuses and raises, better save it up for the coming price hikes and trade war.

Trump will approve a 25% tariff on steel imports and 10% on aluminum next week
wsj.com/articles/trump…

“These U.S. measures will have a negative impact on transatlantic relations and on global markets": EU vows to hit back against Trump in trade war after announcement of steel and aluminum tariffs politico.eu/article/eu-vow…

Despite an intense lobbying campaign by UK cabinet ministers and officials, Trump imposes 'devastating' steel tariff affecting $500 million in annual British steel exports to the US
telegraph.co.uk/news/2018/03/0…

"Trump seems not to understand that steel-using industries employ 6.5 million Americans, while steel makers employ 140,000 ..

Then there’s the diplomatic damage, made worse by Trump’s use of Section 232 to claim a threat to national security"
(^ @de1ong)
wsj.com/articles/trump…

"The tariffs will whack that menace to world peace known as Canada"

Haven't we inflicted enough suffering on our northern neighbors with our glorious curling victory?🥇

U.S. oil and gas industry slams Trump's 'job-killing' steel tariffs reuters.com/article/usa-tr…

"American farmers also fear a potential trade war: “These tariffs are very likely to accelerate a tit-for-tat approach on trade, putting US agricultural exports in the cross-hairs"

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Wilbur Ross needs another prop: Campbell says Trump's tariffs will make soup cans more expensive cnbc.com/2018/03/02/wil…

European Union considering 25% tariffs on $3.5 billion of US imports (1/3 steel, 1/3 industrial goods, 1/3 agricultural) if Trump imposes steel and aluminum tariffs mobile.reuters.com/article/amp/id…

"We believe that tariffs could cause a pretty significant increase in the price of steel on the U.S. market":
Swedish home appliance maker Electrolux places $250 million investment in Tennessee on hold over Trump tariff
(h/t @scottlincicome) #winning cnbc.com/amp/2018/03/02…

This follows Trump's tariffs on washing machines, jeopardizing LG Electronics' planned factory in Tennessee.

Nobody gets screwed by Trump more than the people who voted for him.

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"Since Trump took office, the price for American hot-rolled steel coil has increased by more than 35%, rising about $222 a ton.

When he imposed the tariffs on March 8, prices increased by more than 4% in a day."

The Trump Tariff Layoffs Begin wsj.com/articles/the-t…

American Keg is bracing for even higher domestic steel prices this year.

“We’re already seeing that we’re getting priced out of the market with our U.S. kegs. We’re very concerned that this could put us out of business" 

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“Trump has inadvertently done more for commercial integration in Latin America than many Latin American leaders managed to accomplish"

As Trump pushes tariffs, Latin America pursues FTAs – from Mercosur, Pacific Alliance and #TPP to Canada and the EU
nytimes.com/2018/03/18/wor…

Canada's international trade minister signs #CPTPP (#TPP-11) trade deal with sights set on South America's #Mercosur bloc
cbc.ca/1.4567284

"Earlier in the day, White House aides had said the US was planning to levy tariffs on $50 billion of Chinese imports. It wasn’t immediately clear why Trump cited a different, higher number"

Because everything is arbitrary and subject to change on a whim. wsj.com/articles/u-s-t…

“If you look at companies in the crosshairs of this, it’s Boeing and Caterpillar"

Stocks drop over 700 points on fears a new round of tariffs would further fan the threat of a trade war
nyti.ms/2Gh9bJG