The President Donald Trump ordered a 25% import tax on all steel and aluminum that enter the United States in the great expansion of existing trade barriers.
Tariffs, which will increase the costs of metal imports in the United States, despite warnings from revenge from some political Leaders in Canada – the largest American supplier of metals – as well as other countries.
American companies depends on imports also increased concerns, but Trump said that his plans would increase domestic production.
He warned that there would be no exceptions, saying that he “simplified” the rules set to enter into force on 4. March.
“This is a big deal, the beginning of the creation of America rich in again,” Trump said.
“Our nation requires that steel and aluminum is made in America, not in foreign countries,” he added.
When asked whether the tariffs could increase the prices of consumers, the US president replied, “It will finally be cheaper.”
“It’s time for our great industries to return to America … This is the first of many,” he added, suggesting other tariffs can focus on pharmaceutical and computer chips.
The United States is the world’s largest importer steel, counting Canada, Brazil and Mexico as its three suppliers.
The Canada itself seemed more than 50% of aluminum imported in the US last year. If tariffs come into effect, they are expected to have the most significant impact on Canada.
Late on Monday, the Canadian Minister of Innovation, Francois-Phillippe Champagne, said the tariffs were “completely unjustified.”
“Canadian steel and aluminum supports key industry in the US defense, shipbuilding, car energy,” Champagne said. “This makes North America more competitive and safe.”
Before the announcement, Ontario Premier Doug Ford, whose province is home to the house of steel production of Canada, the accused Trump “to transfer goals and constant chaos, putting our economy at risk.”
Lobby Group for Canadian steel producers called on the Canadian government to revenge against the US “immediately”, while the Kody Blois, the leading representative from the Canada, the Management Liberal Party, said that his country with American ways to reduce.
“This is fully depending on what was a very strong partnership,” he said for the BBC Newshour in front of the official order.
Meanwhile, shared prices of the main American steel producers have increased in anticipation of the order, with the price of Cleveland-Cliff that jumps almost 20%. Steel and aluminum prices also jumped.
The answer to a large market of the market was excluded, reflecting questions about how serious Trump about his plans, given his practice of delayed tariffs or negotiating the exemptions of the rules.
In 2018. Trump announced 25% on steel and 15% on aluminum, but eventually negotiate to cut many countries, including Australia, Canada and Mexico.
“This is the type of reproduction in 2018. years,” Douglas Irwin said, a professor of the economy at Dartmouth College.
“The biggest question is uncertainty about whether this is a negotiating tactic or just doesn’t want to talk to other countries and really wants to help the steel industry that way.”
Last week, Trump ordered the import duties of 25% to all Canadian and Mexican products, only for the disposal of that plan for 30 days. He also brought new US names of 10% to all Chinese goods entering the United States, prompted retaliation from China.
Tariff is a domestic tax that is charged with goods because they enter the country, proportional import values.
The prospects for multiple tariffs introduced to imports in the United States refers to many world leaders, because it will make it more expensive for companies to sell goods in the world’s largest economy.
Taxes are the central part of the Trump’s economic vision. He sees them as a way of growing the American economy, job protection and collection of tax revenues.
But there are also concerns about the performance in the US, where many manufacturers within the United States use steel and aluminum in their products and now facing the probability of added costs.
Industrial groups from construction to possible manufacturers have warned on hit.
In Trump’s first term, the tariff, despite many exceptions, increased the average price of steel and aluminum in the United States by 2.4%, and 1.6%, according to the US Trade Commission.
Stephen Moore, which was advised by Trump’s Economic issues, and is currently a higher associate in heritage, conservative ThinkTank-based in Washington, said that they were not effective tariffs on steel and aluminum to create the first mandate.
He said while Trump was “deadly serious” about the trade, he thought the plan was “about attracting the rest of the world’s attention.”
“Almost everything about all the Donald Trump makes in Washington negotiating tactics,” he said.
Trump officials said the latest moves were aimed at stopping countries like China and Russia from avoiding tariffs through other countries.
The U.S. president said the introduction of new standards that require steel to be “melted” and aluminum “in North America”.
Nick Iacovella, a spokesman for a coalition for prosperous America, representing the manufacturers of steel and supports tariffs, said that his group is most concerned about the defeat of steel imports from Mexico, above the level agreed in 2019. years.
But he noted that Canada sends far more goods in the US but IT imports – a trading deficit that was a key number for Trump.
“There are still imbalances with Canadian and United States trade relationships, which should be resolved,” he said.
He added: “Don’t think they don’t plan to approach a single hammer, but I think at least now, I think that says the president says … (is) both of those countries (Canada and Mexico) abuse their relationship with US We will do something about it. “
2025-02-11 03:50:00
