President Trump announced 25% tariffs on steel and aluminum imports, citing unfair trade practices. He said the tariffs would apply to all countries but acknowledged that some existing trade agreements might exempt certain nations. The president indicated that formal announcements with further details would be released this week.
The president said formal announcements with additional details will come this week."Any steel coming into the United States is going to have a 25% tariff," Trump told reporters on Air Force One, adding that the same tariff would be applied to aluminum.Trump said he would most likely make a formally announcement Tuesday or Wednesday about reciprocal tariffs on"every country," while an announcement about steel tariffs would happen Monday.
Trump spoke to reporters on his flight on Air Force One to New Orleans, where he will watch the Super Bowl., the U.S. companies that import goods from abroad. The companies then often pass along the higher costs to consumers by hiking prices. The United Steelworkers Union did not immediately respond to a request for comment. It previously called for Trump to abandon his promise of 25% tariffs on Canada and Mexico.
Last year, Canada was the largest source of imported steel into the United States, followed by Brazil, Mexico and South Korea, according to the 25% tariffs on imports from Canada and Mexico, two allies and close U.S. trading partners, before he decided last Monday that tariffs would All 10 people on missing plane that crashed in Alaska confirmed dead
TRADE TARIFFS STEEL ALUMINUM US ECONOMY INTERNATIONAL TRADE
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