– The Trump administration’s increase in steel and aluminum duties reflects weak industry conditions and imports that have only fallen slightly — there is a risk of retaliatory action. The impacts of tariff-disrupted trade flows are being felt in the auto sector with plant shutdowns while China’s restrictions on rare earth magnet exports are being felt globally.
– The consequences of tariffs for consumer goods are being felt in the laptop computer segment with selective price increases, evidence of negotiated lower import prices and front-loading. Inventory management has also been...