The tariffs on steel and aluminum imposed on imports from Canada, Mexico and Europe — and the promised retaliation from these key US trading partners — will ripple across the American economy.
You could be affected even if your business has nothing to do with rolls of aluminum or slabs of steel.
First, the price of some products that everyone buys will probably go up.
Beyond that, the trade dispute with these major partners isn't likely to stop with these products.
Mexico and the EU have already pledged to retaliate against American products with their own tariffs.
For example when the steel and aluminum tariffs were first announced in March, Europe signaled it was prepared to take action aimed at Harley-Davidson (HOG) motorbikes, bourbon whiskey and Levi's jeans in retaliation. Farmers could also be hit by tariffs imposed on food exports.
Tariffs will probably also hurt the value of your 401(k), since a trade war is typically bad news for American stocks. The Dow was down more than 200 points midday Thursday.
Edited by kyle585 (06/01/1812:06 PM)
_________________________ **** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****