No doubt in the future, multiple economics and political science dissertations and reams of wordy analysis will be devoted to President Trump's decision to invoke national security as a rationale for imposing tariffs on America's close allies, the European Union, Canada and Mexico (25 percent on steel products and 10 percent on aluminum products).
Will it signal a definitive turning point for the U.S. to adopt protectionism as a major trade policy? Will it portend the end of the global trading system?
Here, the focus will be more on the immediate takeaways and consequences of the administration's action.
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