President Donald Trump has unveiled plans to impose new rates for all steel and aluminum imports in a large escalation of his global trade shadow.
Journalists aboard Air Force One On the way to the Super Bowl continued on Sunday afternoon when President Trump made the surprising revelation.
“Every steel that enters the United States will have a rate of 25 percent,” he told reporters while they all traveled from Florida to New Orleans, which caused an incredible haste to publish the news while moistening in the air against limited reception .
Aluminum, also 'he added, will also be subject to the trade fines.
This includes the input from Canada and Mexico and will probably extend to other import and mutual tasks that are announced later in the week.
These new rates, which are expected to be formally announced on Monday, will come in addition to existing input of metal seals.
During his first term, Trump imposed a rate of 25 percent in steel and 10 percent in aluminum, but gave in to tax -free quotas for certain trading partners, including Canada, Mexico and Brazil.
Trump also told the reporters on board that he would announce mutual rates on Tuesday or Wednesday to get into force almost immediately.
While on board Air Force One on the way to the Super Bowl with a plane full of journalists, President Trump made the surprising revelation
This means that Trump intends to impose import tasks on products in cases where another country has levied tasks on American goods.
“If they charge us 130% and we don't charge them nothing, it won't stay that way,” he said.
“Very simple, it's when they charge us, we'll charge them.”
During his election campaign, Trump was pronounced in his plans to strengthen the domestic steel industry by introducing rates to encourage industries to produce and buy locally.
'I am completely against the once great and powerful American steel that is purchased by a foreign company, Trump said at the time, promising to make our steel' strong and great again. '
The Steel Manufacturers Association supports Trump's rates and forced him to consider a more difficult approach to steel imports last week.
“President Trump and the UST have to strengthen and expand existing rates to support American steel production and close the loopholes and exemptions that have reduced the impact of the rates,” said SMA president Philip Bell.
'The steel industry of America is the backbone of our economy, building the roads and bridges that form our infrastructure. Steel is crucial for our energy security, in particular our robust oil and gas production.
“Every steel that enters the United States will have a rate of 25%,” he told reporters while they all traveled from Florida to New Orleans, which caused an amazing haste to publish the revelation while they fought with a limited reception in the air
“A healthy steel industry is also vital for our national safety and supplies the steel used in our ammunition, tanks, battles and aircraft carriers.”
Bell said that the domestic steel industry in the United States benefited for the last time from Trump's presidency in 2018, when he first set national security -related rates for steel in March 2018.
“President Trump responded to an industry that suffered from rumors of dumped import, which set the rates to support production in America.
“The rates achieved their goals. American steel production rose in response. '
Bell warned that China is planning to dump more steel on the world market than even the United States that can produce annually in an attempt to combat their own 'stagnated economy'.
Trump's newest promised rates come to the White House in his presidency rather than during his previous years, when he gave priority to tax cuts and deregulation.
Financial markets fell on Friday after Trump drove his idea of ​​mutual rates for the first time. The stock prices also fell, with many respondents who refer the rates as a growing care.
When he was asked about aluminum, he replied: 'Aluminum will also be subjected to the trade fines
Trump on Sunday did not offer any further details about the steel and aluminum tasks, or the mutual rates.
Hardly a week ago, Trump threatened 25 percent import tax on all goods from Canada and Mexico, but the policy paused 30 days after working with leaders from both countries.
At the same time, he proceeded to add 10 percent tasks over all input from China.
After crisis discussed with Justin Trudeau from Canada, Trump said: “As a president, it is my responsibility to guarantee the safety of all Americans, and I do exactly.
'Canada has agreed to ensure that we have a secure northern border, and finally the deadly scourge of drugs such as Fentanyl who enter our country, killed hundreds of thousands of Americans while destroying their families and communities throughout the country. '
Canada promised to implement a $ 1.3 billion border policy in an attempt to combat organized crime, fentanyl and money laundering of money on the border in exchange for Trump's promise to stop his rates for 30 days.
At the same time, Mexico also fell in line and agreed to send 10,000 national guards to the border to stop human trafficking and the flow of Fentanyl.
