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Trump Announcement on Steel, Aluminum Tariffs May Come Thursday

Image: Trump Announcement on Steel, Aluminum Tariffs May Come Thursday
(AP)

By    |   Thursday, 01 March 2018 09:10 AM

New tariffs on steel and aluminum imports could be announced by the White House as early as Thursday, Politico reports.

The website noted the possible announcement would have major repercussions on global trade.

President Donald Trump took to Twitter on Thursday to express his displeasure about how the U.S. steel and aluminum industries "have been decimated by decades of unfair trade and bad policy" from other countries.

But, according to Politico, White House officials were still debating whether to make an announcement on new tariffs on Thursday or delay it altogether. One unnamed source told Politico that White House officials are not far enough along in the process to present something for Trump to sign on Thursday.

According to Politico, Trump has told people he is looking at possibly imposing a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports. But no decision has been finalized.

Arguing against the tariffs has been National Economic Council Director Gary Cohn. Meanwhile, national security adviser H.R. McMaster and Defense Secretary Jim Mattis maintain the tariffs could damage relationships with key allies, the website said.

Mattis prefers "targeted tariffs" that would center on certain countries.

But White House trade advertiser Peter Navarro, U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross are in support of the tariffs.

Still, one steel option outlined by Ross would not impose any tariffs, but could instead limit shipments from around the world to 63 percent of each country's 2017 exports to the U.S.

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Politics
New tariffs on steel and aluminum imports could be announced by the White House as early as Thursday, Politico reports.
trump, steel, aluminum, tariffs
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2018-10-01
Thursday, 01 March 2018 09:10 AM
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