American steelworkers' jobs have disappeared as a result ofautomation and globalization. In an effort to preserve theindustry, President Trump recently took a protectionist step andproposed steep tariffs on steel (25 percent)and aluminum (10 percent).

Analysis by trade credit insurance firm Atradius suggests thatthe tariffs will positively impact some players in the metalssector and negatively impact others. The real threat, however, isthat this measure is just the first step toward increasinglyprotectionist measures that will land the world in an ugly tradewar.

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