President Donald Trump said the U.S. will slap tariffs on steel and aluminum imports to protect national security, a major escalation of his hawkish trade agenda that could hit producers from Europe to Asia and spur global retaliation.
After on-again, off-again signals of an impending announcement that sent producers’ stock prices seesawing, Trump said he will impose tariffs of 25% on imported steel and 10% on aluminum for “a long period of time,” and he expects to sign a formal order next week. The president didn’t elaborate on the details of the planned action, including whether any products or countries will be exempted.
“We’ll be imposing tariffs on steel imports and tariffs on aluminum imports,” Trump told metals industry executives
From Industry Week