Coalition of the illing

“The EU said it would take immediate steps to retaliate, while Mexico vowed to impose duties on everything from U.S. flat steel to cheese. Canada’s government announced plans to impose tariffs on U.S. steel, aluminum and other products.” Forget peace with Iran and North Korea. America may need to make peace with its staunchest allies. From Bloomberg: Trump’s Steel Tariffs Provoke Retaliation From Biggest Allies.

+ “I want to be very clear about one thing: Americans remain our partners, friends, and allies. This is not about the American people. We have to believe that at some point their common sense will prevail. But we see no sign of that in this action today by the US administration.” That quote comes from Canada’s foreign affairs minister. Here’s the latest on the reaction to Trump’s tariffs.

+ “In a market economy, businesses can thrive despite bad policies … That’s because those policies may be inefficient, but they are stable in their inefficiency.” The NYT Upshot: The Economy Can Handle Steel and Aluminum Tariffs. The Real Risk Is Erratic Policy.

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