Scoop: Trump's potentially explosive trade play
The Trump administration is working on an executive order that would initiate investigations into "unfair" product dumping from foreign companies — an action that could lead to tariffs on a wide range of products.
These plans are very fluid, and internal disagreements remain about how aggressive this order should be. Here's what I've learned from administration sources:
- Steel and aluminum will be targeted.
- Other products, including household appliances, could be targeted as well.
- If the investigations result in new import duties — as some senior Trump officials believe should happen — it could make some consumer goods more expensive and could hurt the stock prices of American companies that rely on cheap steel imports. A good number of American manufacturing companies, however, could benefit from this hit to their low-cost competitors.