President Trump Ramps Up Tariffs On Steel & Aluminum

The tariffs would impact allies as the four biggest sources of steel imports are Canada, Brazil, Mexico and South Korea. 

President Trump removed the exceptions and exemptions from his 2018 tariffs on steel.

That means all steel imports will be taxed at a minimum of 25%. President Trump also increased his 2018 aluminum tariffs to 25% from 10%.

The moves are part of an aggressive push by the president to reset global trade. Trump said that tax hikes on the people and companies buying foreign-made products will ultimately strengthen domestic manufacturing.

The tariffs would impact allies as the four biggest sources of steel imports are Canada, Brazil, Mexico and South Korea.

“We were being pummeled by both friend and foe alike, it’s time for our great industries to come back to america,” Trump said.