Anyone take basic micro + macro
macro: steel tariff will lead to an insurmountably small decrease in trade performance.
micro: steel tariff benefits american steel companies
fake (but potentially true) philosophy: steel workers will benefit
Most of the wall street drop is about future policy speculation, rather than this policy specifically. This is the theme of trump's presidency, the US is just as terrible as it was the past 3 presidencies but his complete failure to hold onto indirect control levers in diplomacy flesh these themes out.