Expert: Is Trump Going To Start A Trade War This Week Over Steel Restrictions?

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“We are prepared to take up arms if need be.” -European Commission President Jean-Claude Juncker


TRADE/JOBS/ENERGY ANALYST: Dan Perkins, is a Registered Investment Adviser with over 40 years of investments experience investing in all asset classes all over the world. Energy has been a core investment for Mr. Perkins and his clients for the last 25 years. His energy experience includes direct ownership oil, natural gas wells and drillers, pipeline companies, and royalty trusts along with Master Limited Partnership. In recent years he has invested in Compressed Natural Gas conversion of trucking and public transportation fleets away from diesel fuel.

“The results of the Trump administration’s investigation into whether steel imports represent a national security threat are expected any day now, and could open the door to restrictions on U.S. imports — and spark conflict with the world’s biggest economic bloc.

Ostensibly, the object of the administration’s review of steel and aluminum trading practices is China, notorious for dumping cheap steel on global markets. But trade experts have repeatedly explained that any new restrictions on steel imports into the United States would actually hurt countries like South Korea, Germany, and Canada — not Beijing, which is already hamstrung by a spate of trade restrictions.

“We will respond with countermeasures if need be, hoping that this is not actually necessary,” European Commission President Jean-Claude Juncker said Friday ahead of meetings in Hamburg of the Group of 20 world economies. “We are prepared to take up arms if need be.”

According to media reports, nearly all of Trump’s advisers have warned against against any additional steel import tariffs or quotas. That disharmony within the administration has delayed the conclusion of the security review.

In addition to aiming at the wrong target, and angering big trade partners, such tariffs would raise costs for millions of U.S. consumers and thousands of U.S. manufacturers. But a small cadre of economic nationalists close to Trump are urging him to take advantage of the Cold War-era trade rules to protect a relatively small U.S. industry.

Commerce Secretary Wilbur Ross is almost done with his multi-month inquiry into whether steel imports put national security at risk. He has argued that large steel imports from foreign sources makes the United States vulnerable because it undermines the domestic steel industry. (The Pentagon has never expressed much concern about foreign steel undercutting U.S. defense needs, but foreign aluminum is a different matter.)”




BIO: Author and master storyteller Dan Perkins presents the first book in his trilogy about terrorism against the United States. The first in the series, The Brotherhood of the Red Nile, A Terrorist Perspective, has propelled him to national acclaim with interviews on radio, television and in-print. With the second installment, The Brotherhood of the Red Nile, America Rebuilds, we get a closer look into the mind of an ingenious writer. Picking up where book one ends, book two delivers more intrigue and mystery while striking terror in the hearts of readers as we ask the question: How in the world can we stop this from happening?


TWITTER: @dansbeak

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