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Andrew Kelleher: Trumps trade war
The US President's attempt to protect America's aluminium and steel producers is being met with confusion and uncertainty.
Donald Trump announced last week the US would apply a tariff of 25 percent on imported steel, and 10 percent on aluminium to protect domestic producers.
The move triggered a slide in stock markets.
JMIS Director Andrew Kelleher told Mike Hosking traders, economists and commentators are a bit confused.
"There is an element of uncertainty as to how Trump views this issue, as he seems to associate in his language a trade deficit to losing money. No one is actually losing money there is just an imbalance."
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By Newstalk ZBThe US President's attempt to protect America's aluminium and steel producers is being met with confusion and uncertainty.
Donald Trump announced last week the US would apply a tariff of 25 percent on imported steel, and 10 percent on aluminium to protect domestic producers.
The move triggered a slide in stock markets.
JMIS Director Andrew Kelleher told Mike Hosking traders, economists and commentators are a bit confused.
"There is an element of uncertainty as to how Trump views this issue, as he seems to associate in his language a trade deficit to losing money. No one is actually losing money there is just an imbalance."