Bill Kelly: Donald Trump risks jobs in a trade war that doesn’t have to happen
It started with the tariffs on steel and aluminum that were imposed on Canada and other G7 nations by Donald Trump.
It escalated when Prime Minister Trudeau stood up to Trump’s bully tactics and refuted Trump’s unfounded claims of unfair trading practices between the two countries.
Now, Trump is threatening to impose tariffs on the auto sector, which further indicates that he has no idea how international trade works.
Trump’s tariffs would hurt the Canadian and Ontario economies, but it will also impact American steel operations, which rely on Canadian product. The tariffs will most certainly result in higher prices for American consumers.
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Likewise, auto tariffs would interrupt the long-established integrated supply chain that exists in North America, which could result in massive job losses in the auto industry on both sides of the border and, at the same time, increase prices significantly for cars, trucks and SUV’s.
Combine that scenario with the growing “boycott American goods” movement that is developing among G7 nations and there is a real possibility that Trump’s tariff tirade could actually send the American economy into recession.
In Trump’s haste to punish Canada for not capitulating to his one-sided demands, Americans could face job losses and economic hardship as collateral damage in a trade war that didn’t have to happen.
Bill Kelly is the host of Bill Kelly Show on Global
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