'Somebody needs their head examined if they think this is good for the American economy': Businesses are sounding the alarm on Trump's tariffs

Mike Segar/Reuters

• Manufacturers in Texas are the latest to warn about the adverse impact of US trade policy on their businesses.
• "I can't believe the effect the tariff response has had on the metals trade," a fabricated-metal producer said in a response edited for the Dallas Federal Reserve's manufacturing survey. "Somebody needs their head examined if they think this is good for the American economy."
• Another person said Chinese imports continued to keep prices of the person's products low, highlighting one reason the US imposed tariffs.
• In the past three months, the US has hit several countries' exports, with a 25% tariff on steel and a 10% tariff on aluminum.

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President Donald Trump's trade disputes with China and other countries are crushing some of the businesses they were intended to help.

His administration is making good on its promise to fight for better trading terms with America's biggest partners. In three months, the US has hit several countries with a 25% tariff on steel exports to the US and a 10% tariff on aluminum exports.

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See Also:

• A 1960s 'Chicken War' reveals the driving force behind the boom of American pickup trucks
• ALBERT EDWARDS: US-China tensions are distracting from a far more catastrophic trade war threatening to break out
• Trump's trade war escalation has sent Chinese stocks tumbling to multi-year lows

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