Trump appears to have made a big blunder with his new tariff war on Steel and Aluminum.
If I'm reading the tea leaves correctly, it's all about the special election in Pennsylvania where Democrat Connor Lamb has just caught up with Republican Rick Saccone in a very red district. The Republicans recognize the possibility of losing a “safe” seat in the House, and they won’t make it easy!
There are many steel workers with families and friends in that district, and some unions have been attracted to Trump’s protectionism since the 2016 campaign. However, I believe that Trump's steel protection plan, like his health plan, his DACA plan, and his "middle class” tax reform plan is just another game of smoke and mirrors that reverberates with his base. Once the unions recognize that more American jobs will be lost than saved in a trade war, they may modify their approval of it!
Watch for the tariffs to live in the media briefly, but disappear shortly after that election on March13th in Pennsylvania!