How Theresa May can take advantage of Trump’s trade wars
It speaks volumes about protectionism that while the share prices of steel and aluminium makers rose on the news that President Trump is to place tariffs on imports (from exactly which countries he didn’t say), shares in companies which use large amounts of steel immediately plunged: General Motors by 3.7 per cent, Ford by 3 per cent. It is always the same with protectionism. Either Donald Trump hasn’t studied the effects of George W Bush’s experiment with steel tariffs in 2002 or he doesn’t care. On that occasion, while creaking steel companies enjoyed a temporary reprieve, the overall effect on the economy was hugely negative. According to CITAC – a US