President Donald Trump's decision to press ahead with one of his most contentious campaign promises will likely galvanize defenders of free trade in the long run, according to one market strategist.
The U.S. president signed two proclamations on Thursday that implement tariffs on imported steel and aluminum imports — with exemptions for Canada and Mexico. In a move the White House said was an essential matter of domestic and economic security, the U.S. will levy a 25 percent charge on steel imports and a 10 percent tariff on aluminum imports.
"It's a disruptive, external shock to the global trading system… (But) I actually think that this will have positive effects in the long run," James Lucier, managing director at Capital Alpha, told CNBC on Friday.
"It makes people in the United States who have not stood up to support free trade much more anxious to do so now that they see the possible consequences of the benefits of free trade being taken away," he added.