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U.S. NEWS Friday 2 March 2018

Trade war? Trump orders big tariffs on steel, aluminum

Continued fron Front Trump told the executives in
the Cabinet Room. “When
Though the president gen- it comes to a time when
erally focuses on China in our country can’t make
his trade complaining, it aluminum and steel ... you
was the EU’s Jean-Claude almost don’t have much of
Juncker who denounced a country.”
his plan as “a blatant inter- The president added: “You
vention to protect U.S. do- will have protection for the
mestic industry.” first time in a long while,
Juncker said the EU would and you’re going to regrow
take retaliatory action if your industries. That’s all I’m
Trump followed through. asking. You have to regrow
Trump, who has long railed your industries.”
against what he deems un- Increased foreign produc-
fair trade practices by Chi- tion, especially by China,
na and others, summoned has driven down prices and
steel and aluminum execu- hurt U.S. producers, creat-
tives to the White House ing a situation the Com-
and said next week he merce Department has
would levy penalties of 25 called a national security
percent on imported steel threat.
and 10 percent on alumi- Trump’s move will likely President Donald Trump speaks during a meeting with steel and aluminum executives in the
num imports. The tariffs, he raise steel and aluminum Cabinet Room of the White House, Thursday, March 1, 2018, in Washington. From left, John Ferriola
said, would remain for “a prices here. That’s good of Nucor, Trump, and Dave Burritt of U.S. Steel Corporation.
long period of time,” but it for U.S. manufacturers. (AP Photo/Evan Vucci)
was not immediately clear But it’s bad for companies ers of air conditioners. The on our downstream suppli- president of the Asia Soci-
if certain trading partners that use the metals, and it American International Au- ers, particularly in the auto- ety Policy Institute. “What
would be exempt. prompted red flags from tomobile Dealers Associa- motive, machinery and air- benefits one industry can
“What’s been allowed to industries ranging from tool tion warned it would drive craft sectors,” said Wendy hurt another. What saves
go on for decades is dis- and dye makers to beer prices up “substantially.” Cutler, a former U.S. trade one job can jeopardize
graceful. It’s disgraceful,” distributors to manufactur- “This is going to have fallout official who is now vice another.”q