Few of us will be able to pick up a newspaper, check out the news online, or turn on the TV/radio without hearing about a possible trade war in-the-making, but at what cost for the gases industry around the world?
The tariffs have been mooted for some time now, with the prospect of such protectionism from the Trump Administration was a central topic throughout much of 2017. Indeed, the issue was touched about in an interview I ran with the US Steel Manufacturers Association (SMA) in March last year.
President Trump first formally announced plans for the tariffs in March (2018), but subsequently granted some exemptions while countries negotiated. With the verdict this week that not enough progress had been made to warrant a further reprieve, the new tariffs – 25% on steel and 10% on aluminium – have effectively come into force in the last 24 hours.
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