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U.S. President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher U.S. import duties on steel and aluminum meant to come into effect on Friday.
President Donald Trump said his administration would slap tariffs on steel and aluminum imports to the United States, the latest in a series of moves to reorder the country’s trade arrangements along lines Trump believes are more favorable to American interests. The Trump administration has long criticized China for flooding the U.S. market with cheap commodities, and the 25 percent tariff on steel and 10 percent tariff on aluminum Trump announced March 1 seemed calculated in part to rein in what the administration considers unfair Chinese trade practices. But some critics, like Sen. Angus King, I-Maine, have charged that a ...
Australia, Argentina, Brazil and South Korea will also be exempted from steel and aluminum tariffs.
Our analysts don't see a big impact on industrial firms from the tariff threat.
The recommendations were contained in a report released Friday by Commerce Secretary Wilbur Ross, whose agency tapped a rarely used provision of U.S. trade law in investigating whether steel and aluminum imports could pose harm to the country’s defense or security interests.
Here’s what happened the last time the U.S. imposed tariffs on steel - MarketWatch
Will Trump Tariffs Help Steel in America’s Rust Belt? - Bloomberg
History suggests that Trump, too, will be disappointed.