President Trump on Thursday announced plans to impose tariffs on steel and aluminum “for a long period of time” as the administration works to bring both industries “back.”
[ Jenny Leonard and Dan Dupont | March 1, 2018 | Inside US Trade]
After a whirlwind of planning and confusion in the White House and among stakeholders, Trump held a “listening session” with steel and aluminum company executives and said he would hit steel imports with a tariff of 25 percent. Aluminum imports will face a 10 percent tariff, he added.
The moves, the president predicted, will spark both industries to begin creating jobs and reverse a trend in which both were “decimated” by unfair trade practices.
“Pretty much all of you will be immediately expanding” if the U.S. gives the industries “help,” Trump told the executives, citing their comments earlier in the meeting.