Skip to comments.In Triumph for Economic Nationalism, Trump Imposes Sweeping Metals Tariffs
Posted on 03/08/2018 1:39:35 PM PST by davikkm
President Donald Trump on Thursday will sign formal proclamations imposing tariffs aimed at defending Americas steel and aluminum industries from foreign imports. The tariffs are an iron clad measure aimed at defending industries vital to U.S. national security, a senior administration official said.
The orders impose a sweeping tariff of 25 percent on steel imports and 10 percent on aluminum imports. They will initially apply to all countries that export the commodities to the U.S. apart from Canada and Mexico, which will be granted a temporary reprieve while negotiations over the North American Free Trade Agreement (NAFTA) continue.
Canada and Mexico initially will not pay those tariffs, the senior administration official said.
The exemption for Canada and Mexico, however, will not be permanent or open-ended, according to Trump administration official. It is intended to regconize that the U.S. has what administration officials call a security relationship with each of Mexico and Canada and to give those two countries time to reach agreements on how to adjust their trading relationships with the U.S. to address the threat to Americas steel and aluminum industry.
For all other countries, the tariffs will begin to be applied in 15-days.
(Excerpt) Read more at breitbart.com ...
For the first time in my young life, we have a President that actually loves America.
This is truly beautiful.
SuperDon saves America.
Trump has been talking about this since the 80s. This was something he wanted to change long before he announced he would run for President.
No difference between what Donald Trump told Oprah back then and what Trump believes today.
And he fulfilled another campaign promise.
Its funny that CNBC and Bloomberg are outraged at tarifs. And say that there is going to be a trade war because of these tarifs. Then they point out that the other countries already have higher tariffs on our goods now. I contend that not defending your country against tariffs only invite more and higher tariffs. So, countries who are not afraid of us will levy their own tariffs. But people who are afraid that Trump will do what he says, are likely to remove their tariffs on our exports. In other words, not strongly defending your tariffs is worse than defending them.
How can America remain a global superpower if we are not self sufficient in the industries required to maintain that status? Most of the bad actors in the world have difficulty feeding themselves. Do they really want to cut their own throats to maintain the current imbalances and unfair trade policies they now enjoy should we choose to sell our surplus foodstuffs elsewhere in retaliation?
We were allies of Japan in the 1920s, imagine if we had leveraged our steel-making to Japan in that period.
Trump made the point that if foreign companies don’t want to pay the tariff, they can open plants here and hire American workers and they don’t have to pay a tax.
America is open for business.
And instantly, US Steel announces they will reopen a plant in IL and 500 workers will have jobs as a direct result of Trump’s actions.
Yet my dumbass IL congresswoman tweets about scandals. I am going to hammer her every time and I hope others do the same when our representatives have troulbe separating fact from fiction.
Well I know what Mark Levin is going to be ranting and raving and coughing and choking about tonight. Think I’ll go walk the dogs.
He has also made it clear that if you want to “work on your trade deal” with the U.S. to make it more fair, he will wave the tariff and negotiate with you. (Canada and Mexico are exempt from the tariff...they are Negotiating on NAFTA.)
One of the main purposes of the Constitution was to prevent the sovereign states from imposing tariffs and other trade barriers against each other, so if a factory moves from, say, Illinois to Alabama, Illinois can’t impose retaliatory measures against Alabama.
The Framers knew that this would be bad for everyone involved. Yet, somehow, it’s supposed to be beneficial when we do it as a nation.
#8 That would be the best deal of all.
I just hope the stock market doesn’t tank.
The news at https://finance.yahoo.com hardly mentions the tariffs other then this:
Trump takes the sting out of his tariffs
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