By Jacob L. Shapiro
An already eventful week in geopolitics has ended with a flurry of activity. Washington, already unexpectedly slap-happy with tariffs this week, upped the ante again on May 31 when it announced it would no longer exempt Canada, Mexico and the European Union from steel and aluminum tariffs. The announcement, which rattled global markets, was met with widespread condemnation from the countries targeted. The move comes just one day after Japanese Prime Minister Shinzo Abe characterized a U.S. proposal to impose tariffs on U.S. imports of Japanese motor vehicles as “incomprehensible and unacceptable.” And it comes just two days after the White House made a surprise announcement that it would indeed place a 25 percent tariff on $50 billion worth of Chinese goods and impose restrictions on Chinese investments in U.S. high-tech industries.
The cheap and easy conclusion from this is to say the winds of a trade war are blowing strongly once more. The truth is l