Michael Hudson VS Lori Wallach on Trump’s Plan to Impose Steel and Aluminum Tariffs

Michael Hudson VS Lori Wallach on Trump’s Plan to Impose Steel and Aluminum Tariffs

Screenshot by Dandelion Salad via Flickr
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with Michael Hudson
Writer, Dandelion Salad
Michael Hudson
March 6, 2018

Democracy Now! on Mar 6, 2018

https://democracynow.org – “Trade wars are good, and easy to win.” That’s the message President Trump tweeted on Friday, sending shockwaves across the globe and sparking fear of impending economic volatility. On Thursday, world stock markets tumbled after Trump announced he plans to impose new tariffs on imports of foreign steel and aluminum.

The new tariffs—25 percent on steel and 10 percent on aluminum—will benefit U.S. producers of the metals, while raising prices for companies that manufacture everything from cars to airplanes to high-rise apartments. Prominent Republicans and business leaders have denounced Trump’s plan, saying the tariffs will hurt the manufacturing industry and U.S. competitiveness. Trump’s announcement has also prompted concerns that other countries will impose retaliatory tariffs while challenging U.S. protectionism at the World Trade Organization. For more, we host a debate. Lori Wallach is the director of Public Citizen’s Global Trade Watch and author of “The Rise and Fall of Fast Track Trade Authority.” Economist Michael Hudson is the author of “America’s Protectionist Takeoff 1815-1914.”

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy (1992 & 2009) and of The Myth of Aid (1971), amongst many others. He can be reached via his website, mh@michael-hudson.com.

From the archives:

A Travesty of Protectionism by Michael Hudson

Michael Hudson: Privatizing US Infrastructure Will Increase the Cost of Living

Michael Hudson and Ellen Brown: Avoiding The Road To Serfdom

Chris Hedges: The Decline of the American Empire and The Rise of China

Strengthening Corporate Power–New NAFTA Worse Than the TPP by Pete Dolack

Jayati Ghosh: Imperialism in the 21st Century: Capitalism, Globalization, Privatization

5 thoughts on “Michael Hudson VS Lori Wallach on Trump’s Plan to Impose Steel and Aluminum Tariffs

  1. Pingback: A Travesty of Protectionism by Michael Hudson – Dandelion Salad

  2. Trade wars are good, sanctions are good, embargoes are good (if they can be bypassed and circumvented to get essentials). Aren’t we against globalization, for a strengthening of local economies, for self sufficiency?

    Mining, extracting, refining, manufacturing destroys nature, no matter where it is done. The fossil fuels and other mineral deposits of Russia and Iran are as bad as the ones of USA, Canada, and Australia.

    The fossil fuels and metals should remain in their deposits beyond the surface, so that future generations benefit from them.

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