The fact that China is now or will soon be the world’s biggest economy matters a lot. And people will feel it throughout this once great nation.
Ronald Reagan knew about tariffs: “I have been around long enough to remember when we did that once before in this century… We lived through a nightmare,” Reagan, who came of age during the Great Depression, said in 1984.
President Trump has announced a 25% tariff on imported steel, sending shock waves through markets.
The move could spark a trade war with major implications for steelmakers and the economy.
Here’s a look at the numbers behind the global steel industry:
Donald Trump has escalated the threat of a trade war with Europe, warning that the US will slap a tax on cars made on the continent if the European Union (EU) retaliates against tariffs on imports of steel and aluminum.