ILMA Compoundings May 2018 - 42

COUNSEL COMPOUND

Tariffs and Trade
I
By Jeff Leiter

LMA returns this fall to the Marriott Desert Springs Resort, where
the Association celebrated its 50th
anniversary in 1998. There were two
keynote speakers at that convention -
then-Sen. Bill Bradley (D-N.J.),
who was testing a stump speech for a
presidential run, and John Stoessinger,
Ph.D., a professor of international relations at the University of San Diego.
Both men made impressions on me
that last to this day. For those of you
who were there 20 years ago, I will not
be reprising Elvis this October!
I got to thinking about Stoessinger's speech when President Donald
Trump recently announced his plans to
impose tariffs on Chinese imports. His
announcement was met by immediate
retaliation from Beijing, and it followed
the president's actions on steel and aluminum tariffs, as well as his continued
threats to pull out of NAFTA.
In 1998, Stoessinger talked about
the shift that was underway from the
ideological struggles of the 20th century to geopolitical/economic battles
in the 21st century. Stoessinger spoke
of the economic "horse race" among
the U.S., Europe, China, Russia, Japan
and India. Many of Stoessinger's predictions eerily seem to ring true today.
As I write this column, the U.S.
budget deficit is ballooning, China's
investment in the U.S. has slid, Trump
is promising to protect farmers in
any trade war and U.S. allies, such as
Japan, are more vocal about trade relations. At the same time, technology
is moving so fast that today's geopolitical/economic struggles will likely
create new stages of conflict, because
autocracies in Moscow and Beijing

42

MAY 2018

| COMPOUNDINGS | ILMA.ORG

themselves may become unstable. So,
where does this leave us?
In talking with ILMA members,
they have been optimistic about their
businesses. Domestic manufacturing
has rebounded with the addition of
more than 300,000 jobs since the
November 2016 elections. Many
ILMA members' customers have
added shifts or overtime, meaning

orders are up and driving demand
for all types of lubricants. Global
growth, a soft dollar favoring exports,
and lower taxes encouraging business
investment have been positive news.
However, the possibility of an
all-out trade war with China has
spread trepidation among the ranks of
U.S. manufacturers, including ILMA
members. ILMA members tell me they


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Table of Contents for the Digital Edition of ILMA Compoundings May 2018

LETTER FROM THE CEO
INSIDE ILMA
Company Callout
WHAT’S COMING UP
NEW MEMBERS
INDUSTRY RUNDOWN
In the Know
International Insight
Market Report
SMOOTH TRANSITION
PERILOUSLY OBSOLETE
HARASSMENT IN THE WORKPLACE
BUSINESS HUB
COUNSEL COMPOUND
WASHINGTON LANDSCAPE
IN NETWORK
Member Connections
Cross Connections
PORTRAIT
ILMA Compoundings May 2018 - Cover1
ILMA Compoundings May 2018 - Cover2
ILMA Compoundings May 2018 - 1
ILMA Compoundings May 2018 - 2
ILMA Compoundings May 2018 - LETTER FROM THE CEO
ILMA Compoundings May 2018 - INSIDE ILMA
ILMA Compoundings May 2018 - 5
ILMA Compoundings May 2018 - 6
ILMA Compoundings May 2018 - 7
ILMA Compoundings May 2018 - Company Callout
ILMA Compoundings May 2018 - 9
ILMA Compoundings May 2018 - WHAT’S COMING UP
ILMA Compoundings May 2018 - 11
ILMA Compoundings May 2018 - NEW MEMBERS
ILMA Compoundings May 2018 - 13
ILMA Compoundings May 2018 - INDUSTRY RUNDOWN
ILMA Compoundings May 2018 - 15
ILMA Compoundings May 2018 - 16
ILMA Compoundings May 2018 - In the Know
ILMA Compoundings May 2018 - International Insight
ILMA Compoundings May 2018 - 19
ILMA Compoundings May 2018 - Market Report
ILMA Compoundings May 2018 - 21
ILMA Compoundings May 2018 - SMOOTH TRANSITION
ILMA Compoundings May 2018 - 23
ILMA Compoundings May 2018 - 24
ILMA Compoundings May 2018 - 25
ILMA Compoundings May 2018 - 26
ILMA Compoundings May 2018 - 27
ILMA Compoundings May 2018 - 28
ILMA Compoundings May 2018 - 29
ILMA Compoundings May 2018 - PERILOUSLY OBSOLETE
ILMA Compoundings May 2018 - 31
ILMA Compoundings May 2018 - 32
ILMA Compoundings May 2018 - 33
ILMA Compoundings May 2018 - HARASSMENT IN THE WORKPLACE
ILMA Compoundings May 2018 - 35
ILMA Compoundings May 2018 - 36
ILMA Compoundings May 2018 - 37
ILMA Compoundings May 2018 - 38
ILMA Compoundings May 2018 - 39
ILMA Compoundings May 2018 - BUSINESS HUB
ILMA Compoundings May 2018 - 41
ILMA Compoundings May 2018 - COUNSEL COMPOUND
ILMA Compoundings May 2018 - 43
ILMA Compoundings May 2018 - 44
ILMA Compoundings May 2018 - 45
ILMA Compoundings May 2018 - 46
ILMA Compoundings May 2018 - WASHINGTON LANDSCAPE
ILMA Compoundings May 2018 - Member Connections
ILMA Compoundings May 2018 - 49
ILMA Compoundings May 2018 - Cross Connections
ILMA Compoundings May 2018 - 51
ILMA Compoundings May 2018 - PORTRAIT
ILMA Compoundings May 2018 - Cover3
ILMA Compoundings May 2018 - Cover4
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