Trumps car tariffs highlight threat of retaliatory trade war

John Veroneau is quoted in a Financial Times article regarding the federal government's decision to begin a Section 232 investigation into automotive imports. “Everyone was in on the joke that 232 tariffs on steel were thinly veiled protectionist measures. There's not even a veil on this one—just naked protectionism,” says Veroneau. “Because it would unleash retaliation and me-too protectionism around the world and because U.S. consumers will rise up, I expect the administration will ultimately hit the brakes on this one.”