Trump wants to impose tariffs on aluminum and steel coming in to the U.S.
As part of his promise to protect American interests first, US president Trump plans to impose a tariff on aluminum and steel may actually have the opposite affect and hurt the manufacturing base in the country.
The proposed tariffs will hit the automobile and aerospace industries hard, too.
Opponents say the proposed tariffs will hurt manufacturers in the U.S. hard, even as Trump says the tariffs are part of his “America first” agenda.
Trump said Thursday, March 1, 2018 that the U.S. will impose tariffs of 25 per cent on imported steel and 10 per cent on aluminum for “a long period of time.
For American packers using aluminum, they say that there simply isn’t enough supply of the material in the country, and that forcing it to pay more to source it from outside the U.S. will have dubious financial ramifications.