Pres. Trump imposes tariffs
Steel, aluminum imports targeted.
WASHINGTON (Gray DC) - President Donald Trump announced new tariffs on some of America’s closest allies. The new tariffs target imported steel and aluminum. The President also planning to apply what he called reciprocal tariffs on all of America’s trading partners.
The President announcing his tariffs plans on Sunday while flying to the Super Bowl on Air Force One.
“Any steel coming into the United States is going to have a 25% tariff.” After a follow up question from a reporter, the president added, “Aluminum too.”
The tariffs will hit Canada and Mexico particularly hard. The two countries are among the biggest exporters of steel and aluminum to the U.S. Canada exported more than $7 billion in steel and more than $9 billion in aluminum to the U.S. last year.
Monday, President Trump called his action a big deal that would make America rich again.
The President hopes that the new tariffs will give a helping hand to domestic steel and aluminum makers. But many free-trade Republicans in Congress warn that taxing imported steel and aluminum would likely raise costs for any American company that purchases those metals. The President has promised that more tariffs are on the way.
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