Tom Porcelli, RBC:
In plain language these tariffs are a terrible idea. In fact it is such a terrible idea that there was talk amongst the GOP today about pulling some of the President’s unilateral trade authority. But what we find even more disturbing is the Administration’s rationale behind these tariffs: national security and jobs. Let’s explore the first reason on practical grounds alone. Leaving aside the fact that the Pentagon has already come out against these tariffs (ironically on national security grounds), guess who are our biggest suppliers of steel and aluminum? Europe and Canada, respectively. So does the administration actually believe that our two strongest allies represent a national security threat? That is so hard to believe that it borders on absurd. And, for those thinking this has to do with China, in our view that is a political red-herring. China doesn’t even make it into the top 10 in terms of countries we import steel from and the vast majority of our imported aluminum comes from Canada (we import more than 4x as much from Canada as we do from China) . . .
In plain language these tariffs are a terrible idea. In fact it is such a terrible idea that there was talk amongst the GOP today about pulling some of the President’s unilateral trade authority. But what we find even more disturbing is the Administration’s rationale behind these tariffs: national security and jobs. Let’s explore the first reason on practical grounds alone. Leaving aside the fact that the Pentagon has already come out against these tariffs (ironically on national security grounds), guess who are our biggest suppliers of steel and aluminum? Europe and Canada, respectively. So does the administration actually believe that our two strongest allies represent a national security threat? That is so hard to believe that it borders on absurd. And, for those thinking this has to do with China, in our view that is a political red-herring. China doesn’t even make it into the top 10 in terms of countries we import steel from and the vast majority of our imported aluminum comes from Canada (we import more than 4x as much from Canada as we do from China) . . .
Коментар