On 1 March Donald Trump announced tariffs of 25% on steel imports, 10% on aluminium imports.
Other governments are alarmed by this shift towards trade war. The OECD, a consortium of the world’s 35 strongest capitalist economies, has criticised the move. Further argument will come at the meeting of the finance ministers and central bank governments of the G20 (20 strongest countries) in Buenos Aires on 19-20 March.
Socialists should be alarmed too, for our own distinct reasons.