Energy: Steel Tariffs Cause Outcry But What Would Tariffs Really Achieve?
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 22 March 2018
⏱️ 22 minutes
🧾️ Download transcript
Summary
President Trump announced earlier in March that there will be a 25% tariff on imported steel and a 10% tariff on imported aluminum. This led to widespread criticism and fears of prices going up on everything from washing machines to beer. We discuss the details of the tariffs, the likely outcome, and historical examples of both failed and successful tariffs.
Transcript
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| 0:00.0 | Welcome to Industry Focus, the show that dives into a different sector of the stock market every day. |
| 0:06.8 | Today we're talking Energy and Industrials. |
| 0:08.9 | It is Thursday the 22nd of March and we're going to be talking about tariffs. I'm your host Sarah Priestley and |
| 0:14.7 | joining me in the studio is Molly Full Contributor Dan Kline Dan. Thank you for coming. |
| 0:19.0 | Thank you for having me. |
| 0:20.0 | All the way from Florida. |
| 0:21.0 | You got to do something about the weather next time. It's very cold. |
| 0:24.0 | I'll see what I can do. I'm sure that was a big shock. I think we could all use some |
| 0:29.4 | Florida. I was going to say there's cameras in you know recording stuff in Florida. |
| 0:33.4 | We can absolutely do it down there. |
| 0:35.4 | Full Florida. I'll make the pitch. |
| 0:39.4 | So yeah we're going to talk about tariffs today. |
| 0:41.2 | Obviously it's been a big part of the news for the last month. |
| 0:44.8 | President Trump announced that there will be a tariff of 25% on imported steel, |
| 0:49.6 | 10% on imported aluminum, and it's caused a bit of a frenzy. |
| 0:54.0 | There's a lot of politicians that's unhappy about it. |
| 0:56.0 | A lot of industry experts unhappy about it. |
| 0:59.0 | His own economic advisor quit rather than give the decision his support. |
| 1:04.6 | Steel industry is kind of the only fairly happy party about all this. |
| 1:08.7 | It's a typical Donald Trump negotiating tactic. Basically diplomacy is we both talk. We |
| 1:17.1 | may discuss what we could do to each other, but you work out a compromise and |
| 1:21.6 | it all happens behind the scenes. The Trump |
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