{"id":32343,"date":"2018-03-14T20:15:57","date_gmt":"2018-03-15T01:15:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=32343"},"modified":"2018-03-14T20:16:36","modified_gmt":"2018-03-15T01:16:36","slug":"trumps-tariffs-could-start-a-real-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=32343","title":{"rendered":"Trump\u2019s Tariffs Could Start a Real War"},"content":{"rendered":"<h3><a href=\"http:\/\/www.internationalman.com\/\/articles\/trumps-tariffs-could-start-a-real-war\">Trump\u2019s Tariffs Could Start a Real War<\/a><\/h3>\n<div class=\"im-image\"><img decoding=\"async\" src=\"https:\/\/d24g2nq85gnwal.cloudfront.net\/images\/authors\/army-boots.jpg\" alt=\"Trump\u2019s Tariffs Could Start a Real War\" \/><\/div>\n<div id=\"article-body\" class=\"margin_top_25\">\n<p>Trump\u2019s steel and aluminum tariffs may set his epitaph in stone\u2026 \u201cHerbert Hoover II.\u201d<\/p>\n<p>History remembers Hoover as one of the worst American presidents.<\/p>\n<p>Like Trump, he was a rich international businessman. He was also a political outsider. Hoover hadn\u2019t held public office before his 1929 inauguration. And, like Trump, Hoover faced intense pressure from struggling American workers.<\/p>\n<p>In 1930, he signed the Smoot-Hawley Tariff Act into law, raising tariffs on thousands of imported goods to record levels. This kicked off a tariff war, reducing American exports by half. It was a crushing blow to the American economy.<\/p>\n<p>Nearly a century later, Trump seems determined to make the same mistakes\u2026<\/p>\n<p><strong>Trump Started This Trade War Last Summer<\/strong><\/p>\n<p>Trump placed tariffs on steel and aluminum last week. China, of course, is the world\u2019s largest producer of both.<\/p>\n<p>The mainstream press called the tariffs \u201cunexpected.\u201d But they didn\u2019t come out of nowhere.<\/p>\n<p>Last month, I told readers of my advisory, <em>Crisis Investing<\/em>, that steel and aluminum tariffs were likely. (Paid-up readers can access the issue <a href=\"https:\/\/www.caseyresearch.com\/crisis-investing\/the-day-america-isnt-1-anymore\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.)<\/p>\n<p>In fact, I\u2019ve been pounding the table about a trade war\u2014specifically a trade war with China\u2014since September.<\/p>\n<p>Frankly, I think Trump fired the first shot in this trade war last summer, when his administration launched an investigation against China using Section 301 of the Trade Act of 1974.<\/p>\n<p>This rarely used provision allows Trump to \u201ctake all appropriate action&#8230; to obtain removal of any [trade] practice that is unjustified, unreasonable, or discriminatory, and that burdens or restricts U.S. commerce.\u201d<\/p>\n<p>Traditionally, World Trade Organization (WTO) members, including China and the US, have settled trade disputes through it. But Trump, using Section 301, has taken a unilateral approach.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trump\u2019s Tariffs Could Start a Real War Trump\u2019s steel and aluminum tariffs may set his epitaph in stone\u2026 \u201cHerbert Hoover II.\u201d History remembers Hoover as one of the worst American presidents. Like Trump, he was a rich international businessman. He was also a political outsider. Hoover hadn\u2019t held public office before his 1929 inauguration. And, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[7844,19289,6228,11725,9937,805,4311,827],"class_list":["post-32343","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-donald-trump","tag-hot-wars","tag-international-man","tag-nick-giambruno","tag-tariffs","tag-trade","tag-trade-wars","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32343"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32343\/revisions"}],"predecessor-version":[{"id":32344,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32343\/revisions\/32344"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}