American steelworkers' jobs have disappeared as a result of automation and globalization. In an effort to preserve the industry, President Trump recently took a protectionist step and proposed steep tariffs on steel (25 percent) and aluminum (10 percent).
Analysis by trade credit insurance firm Atradius suggests that the tariffs will positively impact some players in the metals sector and negatively impact others. The real threat, however, is that this measure is just the first step toward increasingly protectionist measures that will land the world in an ugly trade war.
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