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FX.co ★ Trump to apply import taxes on steel and aluminum

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Forex Humor:::2018-03-07T15:22:38

Trump to apply import taxes on steel and aluminum

US President Donald Trump will meet with steel and aluminum companies to discuss import tariffs.


Breweries, drinks producers, oil companies and car-makers will also take part in the meeting.


Last week, Trump said that shipments of still to the United States will be subject to a 25% tax. Meanwhile, imported aluminum will be hit with a 10% tax for an indefinite period.


Trump argues that the measure is needed to protect national security as imports costs below market prices hurts US manufacturers.


Higher tariffs for steel and aluminum would mean restrictions on US exports and higher prices for domestic consumers. Despite the fact that the new measures may be limited so far, the political environment for world trade has already worsened. A number of countries said they would impose retaliatory tariffs on the US.

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