What's the Deal with New MetalTariffs?

The big news today is that Canada is not happy. "Tariffs are unjustified" said Canada's industry minister. The issue is steel and aluminum imported from other countries. Donald Trump wants to tax these metals. He actually announced 25% tax on these products. He said there would be no exceptions. Now, countries who sell these products may face trouble. China-bearing city Hong Kong is another player impacted. It is upset because US doesn't see it as an independent territory and as such the tariffs affect it greatly. Hong Kong's official said it will file a complaint with the World Trade Organization (WTO). Why? Because it believes the tariffs are not fair. Trump might be thinking about retaliation but he actually doesn't seem to mind.

Canada is a close trade partner of the United States. Some worry that the US tough stance on metal imports puts these close ties at risk. This is because many US industries rely on these metals. Trumps plans have people wondering, "Will the US economy improve as a result of these high tariffs? " China’s itsy bitsy bit some area Hong Kong, of course has to react to these tariffs. Trade is very important to Hong Kong. It doesn't want to be treated roughly. It's very important that people understand US tariffs effects are not always predictable or straightforward. Countries can view the same situation in totally different ways. People are going to be sharpening pencils and running to their calculators, hoping to to figure out who will be the next to get the metal tariffs.

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