Has a global trade war become inevitable? | Inside Story

The latest shots in a looming trade war were fired on Friday as the European Union imposed $3.3bn in tariffs on US goods.

It's a direct response to recently imposed US tariffs on imported steel and aluminium from the EU, Canada and Mexico.

In making up their own list of products to tax, EU leaders sought to make a point to US President Donald Trump and his supporters that protectionism carries a price.

Among the items now subject to high taxes when entering the EU: bourbon whiskey from Kentucky, the home state of US Senate Republican leader Mitch McConnell.

Harley Davidson motorcycles and artisan cheese, both of which are produced in Wisconsin, the home state of Republican House speaker Paul Ryan.

And orange juice - one of the most important crops in Florida: a swing state whose Republican governor, Rick Scott, is in a tight race for a Senate seat.

Nor is the EU alone.

Canada, China and India have all announced sweeping tariffs on US goods in response to Trump's steel and aluminium levies.

So, where does this leave the international system of rules and treaties that has promoted global trade since the end of World War II?

Presenter: Martine Dennis

Guests:

Steven Rogers - A member of the Donald J. Trump for President Advisory Board.

Deborah Elms - Executive Director, Asian Trade Centre.

Sam Lowe - International Trade Expert at the Centre for European Reform.

[naanaa]

That's what happens when you put a Con artist in the office. Sad.

[ricbakar]

Easy solution. Every country join together and form a new trade agreement without the US. That isolate US from every market globally. That's the way to go.

[ivykkb]

Correct... Nobody treating US BADLY - you imposed all these tariff without a good talk... Suddenly u said that u are treated badly.... 😂😂😂

[stringupthemaoist]

Only thing that happened between the USA & N Korea was Trump stopped acting like a child & listened to Kim for a change!

[haitileblanc]

Maybe stop using the dollar 💵 as a backup currency. Maybe end the Petrodollar.

[xelakram]

Sam Lowe speaks a great deal of sense.

[FredVesseur]

Hey now, don't let this distract you from the fact that Hector is gonna be running 3 Honda Civic's with spoon engines. On top of that he just came into Harry's and ordered 3 t66 turbo's with NOS and a Motec System Exhaust.

[headhunter]

So US will produce their own steel and other products at higher cost, But whos gonna buy those products at double the cost. No country will import them as US have isolated themselves.

[robertog]

If tariffs are not good for people then why do other countries have them

[stevenearlsmith]

The IMF is only interested in "Controlling International Economies". The same applies to the "UN & NATO". The main focus is "International In Nature".

[chssechen]

Cost ? While Trump and his cohort waste money on private jet, golf, and etc .

[tysloo]

hope this trade war can control wasteful spending in the world

[duduoshu]

Man do I luv this. Can't wait to see who pulls out first when it gets too hot.

[harrylyme]

Is it any wonder that Stephen Rogers is as delusional as his master?

[tomdobyns]

The magic happens when the tariffs are MUTUALLY lifted.. In the mean time, jobs return.

[belovedrock.]

If the US wants fairness, I would like to see some alternative to using the US dollar as the de-facto trade currency. The value of the dollar is increased by external economic activity, giving Americans buying power they would not otherwise have, partly explaining the trade deficit.

[robinkatsu]

america out of the paris climate agreement so that they can produce with more pollution, therefore giving them an unfair advantage therefore their products should have higher tariffs

[PAVANZYL]

A lot of cool heads in the Trump administration? I nearly crapped myself!

[ivykkb]

Countries are looking after their people first too...

[TheNosarajr]

The US is getting strong get use to it.