Why Steel? Steel imports from China are not even in the top 10. The biggest steel exporter to the US: Canada, which was exempt from the tariff!?? So why did the administration pick steel as its opening tariff gambit to start a trade war? Here are the top 10 US steel producers:
Turns out Nucor provided Trump’s Trade guru Peter Navarro $1 million in hidden payments through a shell company to make a YouTube video about his book. And the other staunch steel tariff pusher in the cabinet, commerce secretary Ross owned International Steel Group Inc., which he sold for $4.5 billion. He remained on that company’s board until becoming commerce secretary in 2017…
Who wins and who looses under tariffs?