Lebanon today »The stupidest commercial war in history .. A newspaper warns of the consequences of Trump’s economic policy

In an opening article published on its website, the newspaper described this step from the Trump administration as “the most stupid trade war in history”, and warned that this policy would harm American companies and will lead to retaliatory measures from Ottawa and Mexico City.

The newspaper said: “Trump stated that the customs duties will lead to a new golden age for the United States, but the economy has begun to feel its consequences from now, although it has not yet entered into force.”

The “Wall Street Journal” indicated that the governments of Canada and Mexico have announced their intention to impose counter -duties. Ottawa has announced the imposition of 25% fees on American goods with a total value of $ 30 billion, including alcoholic beverages, food, clothes, and home appliances, with the possibility of expansion of restrictions. Prime Minister Justin Trudeau also warned that Canada had limited the export of biological minerals to the United States.

The newspaper highlighted that the American customs duties will also affect the energy markets in North America, which are closely interconnected, pointing out that “Trump has actually recognized this danger, as he imposed 10% fees on Canadian oil exports, but even this level of fees will cause problems For US oil refining companies in the Middle West. ”

The newspaper added that the CEO of the National Producers Association in the United States, J. Timonz, warned, in an interview with the newspaper, that the new drawings “harm the global competitiveness of the American industry” and may have caused great damage to small and medium works that will not be able to find alternatives to provide them with what they need quickly.

The Wall Street Journal emphasized that the customs duties policy may weaken the economists of Canada and Mexico, which depend a great deal on the American market, but this does not necessarily mean that it will lead to recession in the United States itself.

However, the consequences of this “trade war” will be dangerous, and in the long run it may lead to the decline in US partners from relying on the American economy.

The newspaper concluded by saying: “There is no country or a fortified sector. If Trump considers that customs duties are not just a pressure tool, but a justified economic strategy, then this will force the partners to search for other markets. How will America help – this is not clear. So yes, – a commercial war – it seems to be a precise description, if not a dilution of speech in its description. ” (Russia today)