I was going to keep away from this for a while, but having watched the above last night and then found this in The Oz today, I’m afraid that it’s once more unto the breach dear friends:
“While the world reeled after Donald Trump signed off on his trade tariffs …”
Meanwhile, on the editorial page of the very same edition of the very same paper we have: Steel tariffs show Australia isn’t fair dinkum when it comes to fair trade, where we find:
In January an anti-dumping investigation concerning steel reinforcing bars imported from Greece, Spain, Indonesia, Thailand and Taiwan concluded that anti-dumping duties ranging from 4 per cent to 42 per cent would be required. They came into effect last Wednesday.
I will leave it then with this. Is it at all conceivable that a country might do something so unfair that another country would then justifiably put on a tariff, or increase an existing tariff, as a means to limit some potential harm? No? OK. Yes? Then when might that be?
And just for added irony, in 1778, Adam Smith, yes that Adam Smith, was appointed as commissioner of customs in Scotland.
Law of Markets 