Trump's tariff plan has economists worried about damaged economy, allies

Wall Street does not like to hear the words 'trade war,'" ABC News' chief business and economics correspondent, Rebecca Jarvis, said on "Good Morning America."

Edward Alden, a senior fellow at the Council on Foreign Relations specializing in international trade, warned that "there has not been a real trade war in the world since the 1930s and there's potentially one in the works now."

"I have more sympathy than most for the Trump administration's trade policy. I think that they're trying to tackle some real problems, particularly with China. But this is not the way to go about it. Trade wars hurt every country, even the largest ones like the United States," Alden told ABC News.

The reactions come after Trump announced Thursday that the U.S. will impose a 10 percent tariff on imported aluminum and a 25 percent tariff on imported steel beginning next week.



Source: abcnews.go

Comments

Post a Comment

Popular posts from this blog

How was your weekend running?

Can anyone tell me how I can learn to love cross country? Or is it a gene you are born with? Would greater exposure to it (I live in London - aside from the Surrey League fixtures, opportunities are minimal ...) engender affection? At any rate, it’s certainly not my favourite kind of running, though the relief when it’s over almost makes it worthwhile. No, wait, that’s the cake my teammates bring. Saturday saw us in Richmond Park for the final fixture of the season - a wonderful location for it, and complete with classic freezing cross country weather. I suppose at least I warmed up while running, unlike my poor kids who were dragged along and ended up wearing pretty much every discarded coat. And eating a fair amount of the cake. There’s been lots of debate about distance inequality in XC recently - prompted by the campaign/petition Maud Hodson has written about for me here. And it’s a campaign I am thoroughly behind, which anyone who knows my feelings towards XC finds hilarious. Why,...
Read more

The Alaska shipyard where the 'manliest men' meditate each morning

In the dark hours before sunrise, Vigor Alaska’s shipyard bosses circle up their crews. Dwarfed by vast steel segments of a new ferry, welders, painters and electricians twist their bodies. They roll their heads, shoulders and wrists. They ask about each other’s families. They celebrate pregnancies, raises and second chances. They jump. They lunge. They do push-ups and backbends. Seagulls call. Rain drizzles. Then – in jeans and work boots, sweatshirts and hardhats – they meditate. “I thought it was kind of weird,” said Irineo Munoz, 33, who started working for Vigor Alaska as a machinist in 2015. A former gang member from California, Munoz moved to Alaska after his release from prison. As public debate remains intense over gender roles in society and the workplace, Vigor’s morning routine defies gritty, masculine stereotypes associated with industrial labor. Crews meditate, stretch and socialize – on the clock – for a few moments at the start of each workday. Every Wednesday, around l...
Read more

Does cycling really damage men's sexual organs?

Few doubt that cycling helps you get healthy. One study last year found cyclists are less likely to develop heart disease or cancer, and a 2011 review showed it improves fitness and leads to longer lives. But there’s an area of men’s health that has been the subject of a persistent question: does time spent in the saddle lead to problems in the sack? In recent years, scientists have linked cycling with several male health problems, including erectile dysfunction, which they speculate is caused by the saddle decreasing blood flow to the penis. In one study, Norwegian researchers gathered data from 160 men after they took part in a long-distance bike tour. They found that one in five suffered with numbness to the penis that lasted up to a week after the tour, and 13% developed erectile dysfunction that lasted more than a week in most cases. Another study linked cycling to prostate cancer – or at least, that’s how some corners of the media reported it. But the researchers admitted their s...
Read more