“When Mr. Trump imposed tariffs in his first term - 25 percent on steel and 10 percent on aluminum - Mexico retaliated with countertariffs on key American products, including pork, apples, cheese, cranberries, bourbon whiskey and Harley Davidson motorcycles. The tariffs were lifted about a year later with the signing of the revised free trade agreement among the United States, Canada and Mexico. While the short-lived tariffs on steel and aluminum did not lead to significant gains for American manufacturers, it is not surprising that Mr. Trump was considering turning to them again. It represents a win that's easy for Trump to communicate. It benefits - in the short term - an industry that's become emblematic in the United States.”
11 Feb 2025
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