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The drums of war echo through steel’s scrapyard
The fight over tariffs on steel is not just about economics, but also protecting an industry vital to the military.
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The fight over tariffs on steel is not just about economics, but also protecting an industry vital to the military.
PHOTO: BLOOMBERG
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David Fickling
A soldier eats wheat and rice. An army eats steel and oil.
That brutal fact helps explain the protectionist angst gripping the global metals trade. US President Donald Trump’s 25 per cent tariffs on steel and aluminium from every other country on the planet went into effect on March 12. A wide range of steel products are also on the list of goods the European Union will hit with retaliatory levies.
