XPost: alt.politics.trump, alt.fan.rush-limbaugh, sac.politics   
   XPost: talk.politics.guns, alt.society.liberalism   
   From: yourdime@outlook.com   
      
   President Donald Trump, speaking to reporters on Air Force One Sunday,   
   said he planned on announcing a 25% tariff on all steel and aluminum   
   imports into the United States Monday.   
      
   “We’ll also be announcing steel tariffs on Monday,” he said, adding, “any   
   steel coming into the United States is going to have a 25% tariff.”   
      
   “Aluminum, too,” he added.   
      
   Trump also said he planned to hold a separate news conference Tuesday or   
   Wednesday to announce massive new reciprocal tariffs, which could match   
   other countries’ tariffs on US goods dollar-for-dollar.   
      
   “Very simply, it’s if they charge us, we charge them,” Trump said.   
      
   He did not provide many details about how expansive the new tariffs would   
   be or when they may go into effect. It’s not clear if the new steel and   
   aluminum tariffs will be on top of the tariffs already in place on exports   
   from countries like China.   
      
   Trump in 2018, during his previous administration, also announced 25%   
   tariffs on steel and 10% tariffs on aluminum, although the following year   
   he lifted them on Mexico and Canada.   
      
   Last week, Trump imposed a 10% tariff on all Chinese goods imported to the   
   US on top of all existing tariffs already in place on China. After those   
   tariffs went into effect Tuesday, China quickly retaliated by placing   
   tariffs on some chips and metals, began investigating Google and placed   
   the maker of the Calvin Klein and Tommy Hilfiger brands on its unreliable   
   entities list.   
      
   But Trump already began dialing back those tariffs, pausing taxes on any   
   goods worth $800 or less imported into the US until the Commerce   
   Department can develop a system for imposing those hard-to-track items.   
   Trump also paused 25% across-the-board tariffs on Mexican and Canadian   
   imports until at least March 1.   
      
   While the US is not the manufacturing-focused economy it once was, it   
   still consumes tens of millions of tons of steel and aluminum a year,   
   feeding industries such as automaking, aerospace, oil production,   
   construction and infrastructure, such as roads and bridges. Tariffs would   
   increase the cost of production in those industries both because of the   
   increased cost of the imported steel, and because domestic steel and   
   aluminum makers could raise the price of their products due to the reduced   
   competition from low-priced imports.   
      
   The steel industry praised the prospect of tariffs to protect America’s   
   interests.   
      
   “AISI welcomes President Trump’s continued commitment to a strong American   
   steel industry, which is essential to America’s national security and   
   economic prosperity,” said Kevin Dempsey, CEO of the American Iron and   
   Steel Institute, which represents steelmaking companies. “We look forward   
   to working closely with the President and his administration to implement   
   a robust and reinvigorated trade agenda to address the many foreign   
   market-distorting policies and practices that create an unlevel playing   
   field for American steelmakers.”   
      
   Canada and Mexico are the largest and third largest exporters of steel to   
   the US, respectively. Canada now accounts for nearly a quarter of steel   
   imported by American businesses by weight, while Mexico accounts for about   
   12%, according to government data provided by the American Iron and Steel   
   Institute, an industry trade group.   
      
   The European Union, which counted the US as the biggest market for its   
   steel and iron exports in 2023, said Monday that it saw “no justification   
   for the imposition of tariffs on its exports.”   
      
   “We will react to protect the interests of European businesses, workers   
   and consumers from unjustified measures,” Olof Gill, trade spokesperson at   
   the European Commission, said in a statement.   
      
   Overall, steel imported by American businesses plunged 27% between 2017,   
   the year before there were tariffs, and 2019, the first full year of the   
   tariffs, although some of that decline was due to decreased steel   
   consumption. Domestic steel production rose in the same period but only   
   equaled about two-thirds of the drops in imports. Despite the competitive   
   lift that the domestic steel industry has received from tariffs, domestic   
   production was down about 2% last year compared to 2023, and down nearly   
   10% from where it stood a decade ago.   
      
   https://www.cnn.com/2025/02/09/business/trump-tariffs-steel-   
   aluminum/index.html   
      
   --- SoupGate-DOS v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)