“Sooner or later every war of trade becomes a war of blood.” – Eugene V Debs
This past week has been an interesting one in terms of international trade news. President Trump announced, via a Tweet, that he was slapping import tariffs on Chinese steel and that “trade wars are good, and easy to win“.
The ripples of this announcement are still spreading but already countries and trading blocs like Canada and the EU are considering retaliatory tariffs.
The thing is, China isn’t even a particularly major player in US steel imports. It barely factors on any of the top fives by specific products.