Saturday, March 3, 2018

Trump Risks Trade and Currency Wars - Protectionism and Economic War Loom


By Zero Hedge, March 03, 2018

Fears of a global trade and economic war swept across markets yesterday and this morning as President Trump announced very high tariffs on foreign steel and aluminium. In response U.S., Asian and European stocks has slumped, the dollar weakened and gold prices were flat prior to eking out small gains.

The response drew global condemnation but Trump, showing a wonderful grasp and understanding of economic history, pushed back against a wave of criticism against the hefty steel on imported base metals, with an ignorant tweet saying “trade wars are good and easy to win.”

Read More: https://www.zerohedge.com

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