THE IMPACTS OF STEEL AND ALUMINUM TARIFFS IN ONE GRAPHIC
Following President Trump’s March 1, 2018 announcement of U.S. steel and aluminum tariffs, many countries have instituted retaliatory tariffs on U.S. goods. Canada and Mexico, especially large and important trading partners, have indicated that their tariffs will remain until the U.S. steel and aluminum tariffs have ended.
The following graphic presents the retaliatory actions against the U.S. in the most understandable form we’ve seen. Remember though, these numbers include all goods and services and are “bigger” than just the relationships between the U.S. agriculture industry and the ag industries of these countries.
Notably, the significance of the tariffs portrayed in this image has a profound impact on the relationships the U.S. agricultural industry relies upon.
Nine countries have filed complaints to the World Trade Organization.
Sources: POLITICO reports, USTR, White House, Department of Commerce, World Trade Organization, AP, Bloomberg, Bloomberg BNA, CNBC, CNN, Financial Times, The Hill, Reuters