Considering that about 90% of steel and aluminum imports come from Mexico and Canada, today’s Trump signing of the “tariff” really doesn’t amount to that big of a deal. The media is now trying to claim that bitter eurotrash countries not except from these tariffs might put tariffs on things like Kentucky Bourbon or Georgia Peanuts is rather laughable. The combined amount of European steel and aluminum is minimal. Aside from Canada and Mexico, steel and aluminium also come from South American countries like Brazil and Asian counties like Japan. If the Euros want a trade war over something as insignificant as this, then bring it on. Personally, I’m not impressed since these tariffs will do little to protect the American worker since it affects such a small portion of the imports.
| Canada and Mexico exempted from steel, aluminum tariffs |
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President Trump is signing an order Thursday that imposes tariffs on steel and aluminum imports from all foreign countries, while carving out an exception for Canada and Mexico for now while North American Free Trade Agreement (NAFTA) negotiations are under way, White House officials told Fox News.
The president, joined by steel and aluminum workers, will sign a companion proclamation — one on steel and one on aluminum – that will institute a tariff of 25 percent on steel and 10 percent on aluminum imports. The tariffs will become effective in 15 days, with exclusions for Mexico and Canada taking effect “immediately,” officials said.
“A nation that does not protect prosperity at home cannot protect its interests abroad,” the president said. “When it comes time where our country can’t make aluminum and steel, you almost don’t have much of a country.”
A senior White House official said Thursday that the move to impose tariffs would protect “national security” from the effects of “unfair trade practices.”
The U.S. is the world’s largest importer of steel, importing nearly four times as much as it exports, according to the White House. The U.S. imported five times as much primary aluminum as it produced in 2016.