| I think that is basically the case indirectly. Here an example with my limited understanding: Chinese steel is super expensive in the US now, so US manufacturers buy less of it raising the cost of US products. This makes Chinese steel more available on the world market and it becomes cheaper for everyone else. Due to the increased cost of steel US stuff made out of said steel, is generally more expensive while everyone else's become cheaper. So products not made in the US become cheaper in comparison and thus sell better for more profit. Oddly enough the EU imposed counter Tariffs on some weird stuff like Alcohol and Motorcycles... Europeans can easily replace Jim Beam in their Cola. And Harley Davidson is insanely expensive anyway with the usual customers being by MC-Members or dentist in their midlife crisis. |
Red state tariffs.
NB the US tariffs apply to EU steel and steel products, not just Chinese ones, which is why this whole thing is happening.