The United States started a "global trade war" on steel and aluminium. U.S. president Donald Trump signed on February 10 a decree to introduce a 25% work on imports of steel and aluminium to the United States. Reuters commented that US action could increase the hazard of trade war in many areas simultaneously.
Faced with commercial intimidation from the United States, Canada, France, Germany and another countries, they announced that they would defend their interests and respond firmly to unilateral trade restrictions from the US.
The planet is no alien to specified scenes. During Trump's first term, the United States imposed duties of 25% on imported steel and 10% on aluminium. In response, the main trading partners of the United States took countermeasures. This time, the United States launched a "global trade war" on steel and aluminium, ignoring the WTO ruling and seriously undermining the global trade order.
In Trump's economical vision, customs are the main tool for revitalising American production, expanding jobs and expanding revenue. However, looking back, the American side may be hard to accomplish this goal.
How will China, the second largest economy in the world, feel the duties on steel and aluminium imposed by the United States? In fact, as early as September last year, the US announced that they would impose specified duties, but the impact of these measures was limited.
Experts besides point out that the US government imposes duties on importers and their effects are yet borne by US consumers. French president Emmanuel Macron has late said that the United States has imposed duties in many areas, which will origin price increases and inflation in the United States.
There are no winners in trade wars and customs wars, which has been proven repeatedly. The United States should perceive to the voices of its trading partners, virtually take care of the interests of American companies and consumers and return to healthy economical competition.
