Adding on tariffs defies the concepts of free trade and whether it really creates a global or let us say a US EU trade war is yet to be seen. This is very significant, it has impacts on the UK for example, on EU, which is a good size steel exporter. In the aggregate, it is about $2.6 billion of steel across different EU countries. By trading tariffs and increasing domestic production, ostensibly we will be forced to buy products at higher prices.This is not with emerging markets. Look at the level of growth in consumer sector in terms of India’s economy now and in China.

Source: Economic Times March 09, 2018 03:45 UTC