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    Analysis

    Ethan Bernard, SMU Team

    April 1, 2025

    Final Thoughts

    Written by Ethan Bernard

    This April 1, we stand on the brink of President Trump’s self-proclaimed “Liberation Day.” No fooling around. For this Tariff Reveal Party, no one knows quite what to expect. And whether it turns out the game is checkers, 4-D chess, or Russian Roulette, I can’t help but wonder: Have we been too busy fighting the last tariff?

    There’s that old saying that generals are always busy fighting the last war. Recently, Senior Analyst Brett Linton and I took a walk down tariff lane. From Smoot-Hawley, to Trump’s Section 232 1.0, we looked backwards. This time seems different.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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