Trump is trying to redistribute global wealth back into US's favour, Aussie steelmakers had for many years in the past produced steel only to sell it at a loss overseas, but you just can't shut down steel production via turn-key. So in essence Trumps is saying I'm transferring your profit back into the US, you have a choice pay the tariff or shut (limit) your steel production. It may even lead to a renaissance in US steel industry. Will it work?
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US steel import tariffs, page-3
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