Trump proposed a hefty tariff on steel and aluminum imports and Wall Street went reeling. Cenk Uygur and Ana Kasparian, the hosts of The Young Turks, discuss. This clip is brought to you by http://www.Aspiration.com/TYT
“WASHINGTON -- On Wall Street, many investors headed for the exits Thursday. By the end of the trading day, the Dow lost more than 400 points. The market is worried about a possible trade war in the wake of President Trump's announcement that he is slapping new tariffs on imported aluminum and steel in what's billed as a move designed to protect American industry and jobs.
A group of industry CEOs gathered at the White House, however, celebrated the president's decision.
"It'll be 25 percent for steel and it'll be 10 percent for aluminum ... and it'll be for a long time," Mr. Trump said.
But the surprise announcement triggered a market selloff as concerns swirl about whether the tariffs will spike costs for U.S. manufacturers or even trigger a trade war with China.”