Trump's plan to stoke inflation

[BlasterBates]

Trump slump continues.

Another few hundred points down.

[BlasterBates]

I don't think Trump is going to reverse this, in fact I agree with Richard Quest who simply says it's the opening salvo of a global trade war.

Trade wars are good

If you listen to Trump throughout his career he's always advocated a trade war. He's simply going to escalate it after the inevitable retaliation. To him it's a part of normal relations with allies. Give 'em a good kicking and if they complain kick some more.

[jamesbrown]

He'll reverse the decision, then claim how clever he was to reverse it.

It wouldn’t surprise me. He seems to have the memory of a gnat, announcing completely contradictory policies from one day to the next. It’s no wonder there has been an exodus of comms staff from the WH.

[TwoWolves]

Trump does things that he thinks will make Trump look good or help Trump businesses. Nothing more, nothing less.

I think that's exactly what he's doing, bringing it down slowly rather than a crash. I'm trying to analyse his behaviour rather than take sides. I suspect he's currently meddling in Iran too.

He's not my president. I'm British.

[WTFH]

Did it occur to anyone here that he's trying to slowly take the hot-air out of the stock-market?

Trump does things that he thinks will make Trump look good or help Trump businesses. Nothing more, nothing less.

[TwoWolves]

Did it occur to anyone here that he's trying to slowly take the hot-air out of the stock-market?

Only suggested tariffs so far.

[WTFH]

Yep, majorly stupid move.

The world needs a trade war like a hole in the head.

I don't believe he's actually announced the policy yet...

He'll reverse the decision, then claim how clever he was to reverse it.

A bit like he is doing with the gun laws. In Feb 2017 he repealed an Obama law which was to make it more difficult for people with mental illnesses to get guns. Yesterday he announced that he was bringing in a law to make it more difficult for people with mental illnesses to get guns. To his supporters, repealing an Obama law is the best thing ever. To his supporters, announcing a new ruling shows his strength of character, something that Obama never did.

[BlackCountryContractor]

We've had a trade war before over tariffs on steel and it ended badly for the US when the WTO ruled against them in 2002 with painful fines.

"The definition of insanity is doing the same thing over and over and expecting different results."

[jamesbrown]

That's wacked the DOW, 1000 points after Trump announced the tariffs.

Yep, majorly stupid move.

The world needs a trade war like a hole in the head.

I don't believe he's actually announced the policy yet, but if he does go ahead with an across-the-board-tariff, UK steel won't be looking too clever.

[BlasterBates]

That's wacked the DOW, 1000 points after Trump announced the tariffs.

[BlasterBates]

Obviously that justifies the US imposing tariffs on all countries, especially since almost 0.5% of all steel imports come from China. It wouldn't have been sensible to target China directly as US steel manufacturers can't compete successfully against any countries, particularly since most of their imported steel comes from Canada and South America.

Good move. The age of fire and fury.

[TwoWolves]

The Chinese have been selling steel at a loss with massive state loans for years now.

[BlasterBates]

Combination of tax cuts and 25% price increases on the cost of steel which is used in absolutely every industry and product, should really be a recipe for stoking inflation.

Trump to announce 25% tariffs on steel

Along with teachers turning up to class with a sub-machine gun in their briefcase, yet another genius stroke from the US president.

No wonder Nigel thinks he's the greatest president since Roosevelt.