US Makes Good on Trade Threats – What Now?

We are moving into uncharted waters with the Trump Administration’s announcement that the U.S. will move forward to impose $50 billion in tariffs against a wide range of Chinese products, with the first tranche of $34 billion beginning on July 6; as well as tariffs against Canadian, Mexican, European and Japanese steel and aluminum imports.  Retaliation against U.S. exports by China and key U.S. allies will most certainly follow.  President Trump has also threatened tariffs on an additional $100 billion ($200 billion as of Monday, June 19) in imports from China, and on imported autos from Germany, Japan and elsewhere.