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1.Market Observations, 8.Was Sticky

12 July 2018 (AFR) – Donald Trump creates chaos with his tariffs trade war

(12 July 2018, AFR, p27, by Martin Wolf)

US imports subject to proposed v implemented rtariffs, 21018 (Fin Times)

US imports subject to proposed v implemented rtariffs, 21018 (Fin Times)

‘The leader of the world’s most powerful country is a dangerous ignoramus. So how should the rest of the world respond? What makes this so difficult to answer is that Donald Trump has created chaos. It is so difficult to negotiate with him because nobody knows what he and his team want. This is just not normal. The administration’s trade actions and announced intentions are, in this context, important in themselves and indicative of the wider dysfunction. The US has imposed tariffs on imports of solar panels, washing machines, steel and aluminium. If one adds two rounds of tariffs on China under Section 301 of the US Trade Act of 1974, the affected trade comes to about 7 per cent of US imports.’

Read more (and see several more charts) at AFR.com (might need AFR login access, or try: AFR.com /trial)

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