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!
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