4 ms·
US raw sugar prices are 40% higher than world market prices, due to a complex system of tariffs, subsidies, quotas, and price supports [1]. The leading importe
by my_first_acct 8y ago
US raw sugar prices are 40% higher than world market prices, due to a complex system of tariffs, subsidies, quotas, and price supports [1].
The leading importer of steel to the US is Canada, with a 20% share [2]. I'm not quite sure how "national defense" can be used to justify tariffs on Canadian steel. (You stated that the steel tariffs against Canada are merely positioning for the NAFTA negotiations, but the White House proclamation [3] only mentions national defense).
You write: "The US is in meaningful trade confict with only a few nations". I can't be bothered to do any research to see if your list is complete, but until recently, 3 of the 5 nations you listed were considered close allies, and the 4th was considered at least friendly. Declaring a trade war on one's allies is, perhaps, not the best way of ensuring one's allies' cooperation in conflicts with one's actual adversaries.
In other words, even a hyper-power should think twice about waging a multi-front war, against allies as well as enemies, on numerous issues simultaneously.
(Edit: If the US concern is that China might disrupt its Asian supply chains, it should probably focus on high-tech components such as RAM, SSDs, displays, etc, rather than on steel. I sometimes get the feeling that the current administration is basing its industrial strategy on the lessons of World War II, which would seem to be about 70 years out of date.)
[1] https://www.heritage.org/trade/report/us-trade-policy-gouges-american-sugar-consumers https://www.heritage.org/trade/report/us-trade-policy-gouges...
[2] https://www.trade.gov/steel/countries/pdfs/imports-us.pdf https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
[3] https://www.whitehouse.gov/presidential-actions/presidential-proclamation-adjusting-imports-steel-united-states/ https://www.whitehouse.gov/presidential-actions/presidential...