Trump steel tariffs "macho nationalism," says Michigan economist
Michigan State University economist Charles Ballard minced no words to describe his reaction to President Trump's announcement that he will impose new tariffs on foreign-made steel and aluminum.
"What this looks like to me is macho nationalism," says Ballard, "unhindered by any serious thought about the economic repercussions."
Ballard says the tariffs may help workers in the U.S. steel and aluminum industries.
"But for the overwhelming majority of Americans this will raise costs of things that we produce using steel and that we buy using steel and aluminum."
Ballard says the big worry is the tariffs could trigger retaliation by countries slapping tariffs on U.S-made goods.