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🇺🇸Trump, the Democrats, and the future of US democracy – UpFront
In this week’s UpFront special, we speak to Steven Rogers, an adviser on US President Donald Trump’s 2020 re-election campaign and discuss Trump’s much criticised rhetoric and campaign strategy.
Mehdi Hasan Is Relentless in His Interviews with Trump Proxies
Mehdi Hasan talks about his unique advantage in interviewing Trump’s proxies and the main difference between the British and American press.
How Are Those Steel Tariffs Working?
Trade deficit. “We need and we will get lower trade deficits, and we will stop exporting jobs and start exporting more products instead,” Commerce Secretary Wilbur Ross said last March after the President announced his steel tariffs. We disagree with the President’s preoccupation with trade deficits, which are affected more by capital flows and currency values than trade policy.
But it’s worth pointing out that the trade deficit in steel increased last year by $1 billion as exports (measured in dollars) fell 7% and imports rose 1%. Imports ton for ton fell more than exports did. But the average price of steel per ton increased more for imports than exports, perhaps due to shifts in currency values and product deliveries—e.g., businesses importing more expensive specialized steel grades.
Retaliatory tariffs by Canada and Mexico contributed to a $650 million drop in American steel exports. At the same time imports increased from Mexico and Canada, which are deeply integrated into U.S. supply chains. In many cases manufacturers paid the tariff and passed on the cost to customers.