It looks increasingly likely that President Trump’s plan to impose tariffs on imports of steel and aluminium on grounds of national security will be implemented in some form. If so, other governments including the European Union, will respond with measures of their own. However, while the EU may move more quickly than it has done in the past, its politicians also have good reasons to exercise restraint in order to minimise the risk of an out-and-out trade conflict. Meanwhile, the bigger concern is of a much broader and deeper shift towards protectionism in the coming years.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services