debut: 2/16/17
38,886 runs
Trump another tariff on Monday
President Donald Trump, speaking to reporters on Air Force One Sunday, said he planned on announcing a 25% tariff on all steel and aluminium imports into the United States Monday.
[b]“We’ll also be announcing steel tariffs on Monday,” he said, adding, “any steel coming into the United States is going to have a 25% tariff.”While the United States is not the manufacturing-focused economy it once was, it still consumes tens of millions of tons of steel and aluminum a year, feeding industries such as automaking, aerospace, oil production, construction and infrastructure, such as roads and bridges.
“Aluminium too,” he added. 75 % imported aluminium comes from Quebec, 25 % steel comes from Ontario.
Trump also said he planned to hold a separate news conference Tuesday or Wednesday to announce massive new reciprocal tariffs, which could match other countries’ tariffs on US goods dollar-for-dollar.
“Very simply, it’s if they charge us, we charge them,” Trump said.He did not provide many details about how expansive the new tariffs would be or when they may go into effect. It’s not clear if the new steel and aluminium tariffs will be on top of the tariffs already in place on exports from countries like China.
Trump in 2018, during his previous administration, also announced 25% tariffs on steel and 10% tariffs on aluminium, although the following year he lifted them on Mexico and Canada.But Trump already began dialing back those tariffs, pausing taxes on any goods worth $800 or less imported into the United States until the Commerce Department can develop a system for imposing those hard-to-track items. Trump also paused 25% across-the-board tariffs on Mexican and Canadian imports until at least March 1.
President Donald Trump, speaking to reporters on Air Force One Sunday, said he planned on announcing a 25% tariff on all steel and aluminium imports into the United States Monday.
[b]“We’ll also be announcing steel tariffs on Monday,” he said, adding, “any steel coming into the United States is going to have a 25% tariff.”While the United States is not the manufacturing-focused economy it once was, it still consumes tens of millions of tons of steel and aluminum a year, feeding industries such as automaking, aerospace, oil production, construction and infrastructure, such as roads and bridges.
“Aluminium too,” he added. 75 % imported aluminium comes from Quebec, 25 % steel comes from Ontario.
Trump also said he planned to hold a separate news conference Tuesday or Wednesday to announce massive new reciprocal tariffs, which could match other countries’ tariffs on US goods dollar-for-dollar.
“Very simply, it’s if they charge us, we charge them,” Trump said.He did not provide many details about how expansive the new tariffs would be or when they may go into effect. It’s not clear if the new steel and aluminium tariffs will be on top of the tariffs already in place on exports from countries like China.
Trump in 2018, during his previous administration, also announced 25% tariffs on steel and 10% tariffs on aluminium, although the following year he lifted them on Mexico and Canada.But Trump already began dialing back those tariffs, pausing taxes on any goods worth $800 or less imported into the United States until the Commerce Department can develop a system for imposing those hard-to-track items. Trump also paused 25% across-the-board tariffs on Mexican and Canadian imports until at least March 1.
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