First off, this post is not about politics so don’t send me your political views. I learned the hard way a long time ago, politics and the markets don’t mix so I do my best to avoid them at all costs. Not only is it a distraction from making money and keeping focus, but also it does nothing to provide any edge. So why on god’s green earth should investors pay it any attention if it is not a path to greater returns?

The markets are the final arbiter of policy and politics and the chart of US Steel, X, is telling a very compelling story. It’s not something we all did not already know or at least surmise. Tariffs, in most situations are counter-productive, especially to the people/organizations they are most trying to help.

Trump announced tariffs on steel imported to the US on March 8, 2018. Since that time, the price of the United States’ largest steel producer has fallen more than 70%.

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What is not clear is if US Steel has benefitted in some way from the tariffs … what is very clear is that US Steel’s investors have not. Further proof that politics and the markets don’t mix.