Why would they not object?
The EU, Mexico, Japan, Australia, South Korea, Canada, India among the WTO members expressing very strong concerns about US plans. This according to trade officials at a WTO meeting.
The WTOs Azevedo said
- An eye for an eye will leave the US all blind in the world in deep recession
- Must make every effort to avoid the fall of the 1st dominoes
- We cannot ignore this risk, once we start down this path it will be very difficult to reverse direction
Meanwhile in the US, Representative's Brady and Reichert say in a letter that
- Tariffs should be narrow, targeted, and focused on addressing unfairly traded products, without disrupting flow of fairly traded products.
And more broader congressional leaders say
- Will not rule out potential action down the line if Trump continues with Plan.
This is from a House Republican source.
Meanwhile (again), stocks are trading near highs with the S&P up 0.73%, the Nasdaq up 0.72% and the Dow up 0.69%.
