05/01/2018: Just because you use words interchangeably doesn't mean they're the same

Summary: Ahead of a midnight deadline last night, the White House gave a slew of countries exemptions from <span>steel and aluminum tariffs </span>lasting a month or longer. South Korea has already scored itself a permanent pass by agreeing to restrict its steel and aluminum exports to the United States. That's the deal the Trump administration is offering Europe and its NAFTA partners, too: If you don't want tariffs, then agree to a quota. Thing is, there's a pretty big economic difference between the two. We'll explain, then examine the reaction to this policy from a number of trading partners. Plus, a look at Canada's skills-based immigration policy, which Trump has said he admires, and its unintended side effects.