Trump reveals new tariffs of 25% on all steel and aluminum imports
President Donald Trump has ordered a 25% import tax on all steel and aluminium entering the US in a major expansion of existing trade barriers.
The tariffs, which will increase the costs of importing the metals into the US, come despite warnings of retaliation from some political leaders in Canada – America’s biggest supplier of the metals – as well as other countries.
US businesses dependent on the imports have also raised concerns, but Trump has said his plans will boost domestic production.
He warned there would be no exceptions, saying he was “simplifying” the rules, which are set to come into effect on 4 March.
news courtacy | BBC
President Donald Trump has ordered a 25% import tax on all steel and aluminium entering the US, despite warnings of retaliation from the political leaders in Canada and other countries. The tariffs will increase costs for US businesses dependent on the imports, but Trump believes it will boost domestic production. There will be no exceptions to the tax, which is set to come into effect on 4 March. Trump stated that he is simplifying the rules, in a major expansion of existing trade barriers. This move has sparked concerns and reactions from various countries and businesses.
