The anti-European hysteria, which began in March 2018 against the backdrop of the protection/revival American steel industry process. It has may seem to us as something new and unordinary - a kind of global event that will be devoted to a separate chapter in future history textbooks.
US President Donald Trump announced on March 1 the introduction of tariffs for the import of steel (25%) and aluminium (10%), which concern dozens of supplier countries. In Washington, where adheres to the policy "America is above all!", and they believed that this step, completely contrary to the norms of the World Trade Organization (WTO), will contribute to the American industry protection.
At this instant, Washington embarked on the path of trade war. At first, The US Department of Commerce proposed to introduce large-scale protectionist duties on the supply of aluminium and steel from abroad, as they undermine the "national security" of the United States.
As a preparation for the introduction of protectionist duties, Trump declared the World Trade Organization a "catastrophe," which "makes business almost impossible for the United States." He expressed particular concern over the fact that "America is losing a lot of money in favor of Mexico and Canada." After the latest statements of the Trump, the Dow Jones-Index fell more than 2%, however, the value of the shares of the leading American steel producers increased sharply.
According to statistics, the US imports four times more steel than it exports, and the US industry uses steel produced in more than 100 countries around the world.
Trump states that these protectionist measures will lead to healthy US economy and get new jobs to American people, although in a number of industries more expensive American steel and aluminium will cause higher prices for their products and lower competitiveness.
As a result, the Americans open the "Pandora's box" with the most unpredictable consequences. The US trade policy threatens the global economy and the trading system. In fact, we are talking about an economic war with the whole world, including with its largest economies - China and EU. It is important to note that Europeans has been preparing to this kind of war and intends to accept the challenge, defending its legitimate interests.