Warren Buffett's Critique of Trump's Trade Policy

Warren Buffett criticizes President Trump's trade policy, stating that trade should not be used as a weapon and protectionist policies could have negative consequences for the U.S. economy. Buffett's comments come after the White House imposed high tariffs on imports, leading to market volatility.

Impact of President Trump's Tariffs on Trade Negotiations

Legendary economist Art Laffer expresses fear over President Trump's tariffs but remains hopeful that trade deals will be secured to reduce them. Laffer believes protectionism leads to economic downturns and urges for reduction of tariffs. Despite concerns, Laffer praises Trump as a great negotiator and the best president of his lifetime.

Trump firing national security aides and EU preparing countermeasures against U.S. tariffs

President Trump fired at least 3 national security aides after a meeting with far-right activist Laura Loomer. The European Union is preparing countermeasures against U.S. tariffs imposed by Trump. European Commission President Ursula von der Leyen criticized the tariffs as a major blow to the world economy and warned against further protectionism.

China-Canada Trade War Escalation

China imposed tariffs on Canadian goods in response to Canada's tariffs on Chinese products, escalating a trade war. The dispute revolves around accusations of dumping subsidized products and protectionism. The situation may be a strategic move by China to influence Canadian trade policies.

Impact of Protectionism on the US Economy

Protectionism threatens to fuel inflation, push up interest rates, and end the bull run in equity markets. The US economy is currently experiencing strong growth, but there are concerns about excessive government borrowing, rising stock prices, and increased consumer spending creating a bubble. President Trump's trade tactics are seen as risky, potentially leading to a trade war that could disrupt global markets.

U.S. Steel and Trade Policy

The article discusses the potential acquisition of U.S. Steel by Nippon Steel and the implications on trade policy. It challenges the notion of protectionism and questions the supposed benefits of the deal.