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   The U.S. is back at it again with import tariffs.   
      
   It looks like significant, permanent tariffs are now likely for steel and   
   aluminum in particular.   
      
   American steel companies are happy about this because foreign steel will now   
   be more expensive, guaranteeing their sales. The U.S. imports 70% of the steel   
   it uses. American steel companies can't compete with foreign steel producers,   
   so these import tariffs are their salvation.   
      
   The result is that American products will become more expensive because steel,   
   as a raw material, is more expensive in the U.S. and will remain so due to   
   import duties.   
      
   So, initially, this is unfavorable for foreign steel companies, but in the   
   second instance, American products will become more expensive. Just look at   
   cars.   
      
   German cars are currently more expensive. But if American cars become more   
   expensive due to the higher cost of steel in the U.S., German cars will become   
   relatively cheaper. The only thing German car manufacturers need to do is   
   survive the difficult interim period. Of course, the American government could   
   also impose a tariff on imported cars. In that case, driving a car in the U.S.   
   would become even more expensive overall. That's quite a big deal for a   
   country where everything is done by car.   
      
   Regardless, American cars will become less attractive for Europe and the rest   
   of the world since they'll be more expensive. This means German and European   
   cars will face less competition from American cars elsewhere. The question   
   then becomes how they'll fare against Chinese cars.   
      
    .   
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