This is truly alarming. Three days after Donald Trump announced new tariffs on both steel and aluminium, the Australian government still doesn’t seem to know whether or not our local producers will be affected. More alarming still that the new tariffs are already starting to attract serious talk of retaliation from Europe and Canada.
While there is a kernel of truth to Mr Trump’s claim that some countries do not play by global trading rules, his view that trade deficits somehow show if a country is “winning” or “losing” is terribly misguided.


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