With the U.S. announcing substantial duties on imports of steel and aluminum products from Canada, Europe, and Mexico, some nerves are getting a bit frayed.
Counter-duties on similar and other goods imported from the U.S. are being bandied about.
This nascent trade war may just be a negotiating tactic in the (currently on hold ?) negotiations of the North American Free Trade Agreement (NAFTA) and the like. Still, they are bound to increase prices to consumers on either side of each issue. The only winners of such new levies would be the respective governments that levy such new “import taxes.” Let’s look at two items on the list of duties and counter-veiling duties.
Aluminum: Let’s look at the worldwide aluminum production in 2016