America and the EU demonstrate protectionism’s ratchet effect
Negotiations over metal tariffs are going nowhere
As america unleashes a barrage of new protectionist measures under President Joe Biden, it continues to be dogged by past efforts—not least the tariffs on aluminium and steel that President Donald Trump thought necessary. These “section 232” levies, named after the trade act under which they were introduced, are scheduled to return to their original scope at the start of 2024, when a deal agreed by Mr Biden and the eu is due to run out.
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This article appeared in the Finance & economics section of the print edition under the headline “America v the EU”
Finance & economics October 28th 2023
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From the October 28th 2023 edition
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