Trump Imposing tariffs On Steel And Aluminum
- Mar 1, 2018
- 1 min read
President Trump has announced that there will be new tariffs on steel and aluminum. 25% for steel and 10% for aluminum, it is not clear how these new tariffs will be applied and if they will affect Canada.
President Trump had summoned leaders from the steel and aluminum companies to meet at the White House to discuss the tariffs.
Early this morning the White House officials said that that this meeting was only some kind of listening session to discuss potential taxes, but no decision will be expected to be reached today.
Trump has also tweeted about this topic earlier.
Not all people seem to be happy with this though, the American International Automobile Dealers Association (AIADA) has stated that steel and aluminum were a crucial part of the making of vehicles sold in the U.S. and that the tariffs would raise car sale prices by a very large amount.
Wall street also had a lot of unhappy reactions with major U.S. benchmark indexes closing quickly down after this announcement.
No details of if this will affect Canada yet or when it will be set into action.
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