‘Trade wars are good’? 3 past conflicts tell a very different story
President Donald Trump renewed fears of a global trade war after he vowed to slap steep tariffs on foreign aluminum and steel.
The tariffs haven’t even been formally proposed, yet other countries are already threatening countermeasures. The European Union, for example, promised to impose tariffs on iconic American products like Harley-Davidsons, Kentucky bourbon and blue jeans, while China, Australia and Canada all promised a response.