6 months ago
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President Donald Trump has ordered a 25 per cent import tax on all steel and aluminium entering the US in a major expansion of existing trade barriers.
The BBC says 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 says 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 March 12.
When asked if tariffs could increase prices for consumers, the US president responded: “Ultimately it will be cheaper.”
The US is the world’s largest importer of steel, counting Canada, Brazil and Mexico as its top three suppliers.
English (US) ·