A major development that is disheveling many heads and executives of multinational corporations (primarily in the US, Canada and European Union) and causing friction within the two major American political factions is President Trump’s proposal to impose somewhat hefty tariffs on processed goods and commodities entering the United States.
President Trump’s major argument (and arguably one of his “winning” keynote campaign messages) is the incredibly unfair and highly polarizing balance of trade deficits in favour of America’s competitors which has purportedly led to the decimation of America’s erstwhile vibrant manufacturing base.
President Trump himself encapsulates this notion in this charged tweet;
The lack of resolution within President Trump’s inner circle on his proposal to impose tariffs on goods and commodities arriving into the United States (particularly aluminium and steel) led to the resignation of the Senior White House Economic Adviser, Gary Cohn. Senior Republican officials such as House Speaker, Paul Ryan have also made known their strong reservations against President Trump’s proposal.
What is your take on the President’s tariff proposal and the necessity of a trade war in helping plug the trade deficit and resuscitate America’s once robust and now fledgling manufacturing base? Share your comments below