(From CBS News)
The Trump administration’s tougher posture on global trade policy is ringing alarm bells on Wall Street.
The immediate trigger for those concerns was President Donald Trump’s move last week to approve 30 percent and 50 percent tariffs on, respectively, imported solar panels and washing machines just days before his appearance at the World Economic Forum in Davos, Switzerland. Mr. Trump’s Treasury and Commerce secretaries added fuel to the fire at the annual confab by suggesting that additional measures could be on the horizon.
The risk: Affected countries could retaliate with their own tariffs or other sanctions, setting the stage for a trade war that could mean higher prices for consumers and shrinking exports for U.S. manufacturers.