By GPF Staff
The impact of U.S. protectionist policies continues to ripple throughout the global economy, albeit in unexpected ways. According to Bloomberg, which cited unnamed sources, Canada is considering tariffs on steel imports – and not just from the United States. In other words, Canada, a vociferous critic of steel tariffs, is trying them on for size. Mexico, the other member of NAFTA, banned U.S. potato imports because of a threat to Mexico’s “national sovereignty,” invoking a justification similar to the one the U.S. used for its protectionist policies. Finally, the U.S. Commerce Department is completing a study on import tariffs on cars, a necessary step toward enhancing presidential authority to place tariffs on car imports. The catch: The government will have to prove that car imports threaten U.S. national security. German, Japanese, South Korean and other major car exporters have much at stake in the verbal gymnastics to come.
The U.S. and Russia have scrap