(Coral Davenport & Ana Swanson – New York Times)
“The assault on the American auto industry is over,” President Trump declared last spring in Detroit, promising auto executives that he would throttle back Obama-era regulations on vehicle pollution.
The moment embodied one of Mr. Trump’s main political promises — to promote pro-business policies that unshackle industry and the economy. He has pledged to create an oil and gas boom that will spawn “massive new wealth” and to renegotiate the North American Free Trade Agreement to eliminate “big trade barriers” for American products. His new taxes on metal imports “have already had major, positive effects” on classic Rust Belt industries like steel and aluminum, the White House has said.
Even as the president’s pro-business stance is broadly embraced by the corporate community, in some significant cases the very industries that Mr. Trump has vowed to help say that his proposals will actually hurt them. They also warn that policies designed to aid one group will eat into someone else’s business in ways that policymakers should have anticipated. Click here to read more.
- Why the Rust Belt Economy Will Suffer in a Trade War (Brookings Institution)
- Escalating Trade Threats Could Hit Ohio Valley Coal, Natural Gas (WOUB | NPR/PBS)
- Cree Girds for LED Tariffs It Says Will Sting (Wall Street Journal)
- Trump’s Proposed Tariffs on Auto Imports Will Hurt Entire Industry by Disrupting Supply Chain: Moody’s (CNBC)