It does not appear this administration limits its’ scope when it come to trade, most certainly not a single sector.
They are using “whole nation” power to balance it.
A whole nuther level of mercantilism.
Trump is attacking the macro numbers...what is the trade balance?
If another nation/bloc has a large surplus, he will use all commercial sectors, diplomacy and military power to balance it.
The US is, by far, the largest market in the world. Countries that want access must do whatever is necessary to ensure balance, or the US will act unilaterally.
This upends the entire post-war order.
They should count themselves blessed the goal is not a massive US trade surplus.
That’s fine from a macro viewpoint, but the subject of this is the EU, led by Germany, calling Trump’s bluff and offering zero tariffs for U.S. cars exported in exchange for zero U.S. tariffs on vehicles imported. Will Detroit stand for this?
They can’t be our friends just some of the time when it gets them lots of money. Tying trade to the Iran deal is brilliant.