CNBC says Trump will announce his decision on steel and aluminum tariffs at today’s morning meeting.
Earlier, Bloomberg reported that Trump will put 25% tariffs on steel and 10% on aluminum from all countries. Some countries might be given exemptions.
The next question is whether someone will retaliate.
«Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world,» Trump said in a Twitter posting Thursday. «We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!»
Trump is using a national security provision to put on the tariffs and his tweet will signal to everyone that national security is a ruse.