President Donald Trump has ordered a 25% import tax on all steel and aluminum, which has entered the US for high expansion of existing trade barriers.
Tariffs that increase the cost of import metals in the US come despite warnings of revenge from some political Leaders in Canada are the largest metal supplier in America – as well as other countries.
US enterprises, which depend on the import, also caused concern, but Trump said his plans would increase domestic production.
He warned that there would be no exceptions, saying that he was “simplifying” the rules that come into force on March 4.
“This is a big deal, starting to make America again,” Trump said.
“Our nation requires that steel and aluminum produce in America, not foreign lands,” he added.
Asked if the tariffs can increase consumer prices, the US president replied: “It will eventually be cheaper.”
“It is time when our large branches go back to America … This is the first of many,” he added, believing that other tariffs can focus on pharmaceuticals and computer chips.
The United States is the world’s largest importer, which considers Canada, Brazil and Mexico as the top three suppliers.
Canada alone accounted for more than 50% of aluminum, which was imported into the US last year. When tariffs come into force, they are expected to have the most significant impact on Canada.
At the end of Monday, Canadian Innovation Minister François-Filipe Champagne said the tariffs were “completely unreasonable.”
“Canadian steel and aluminum support for key industries in the USA from protection, shipbuilding, energy to automotive work,” said champagne. “This makes North America more competitive and safe.”
On the eve of the announcement, the Prime Minister of the Ontario Doug Ford, in which most of the capital’s production of Canada is in the province, accused Trump of “changing the gate and constant chaos, exposing our economy at risk.”
A group of Canadian manufacturers has called on the Canadian government to avenge the US “right away”, while Cody Balo, a leading deputy from Canada’s ruling Liberal Party, said his country was looking for ways to cut his trade relations with the United States.
“It completely overcomes what was a very strong partnership,” he said BBC Newshour before the official order.
Meanwhile, the prices of large-scale US steel manufacturers rose on Monday, and the Cleveland Clipps price jumped by almost 20%. Prices for steel and aluminum also jumped.
The reaction to most of the rest of the market was muted, reflecting questions about how serious Trump about his plans, given his results of the postponement or negotiations on release from the rules.
In 2018, during his first term, Trump announced a 25% tariff and 15% on aluminum, but eventually agreed to break for many countries, including Australia, Canada and Mexico.
“This is a kind of repetition of 2018,” said Douglas Irvin, a professor at the Dartmut College.
“The biggest question is the uncertainty about whether it is a tactic of negotiations, or it just doesn’t want to talk to other countries and really wants to help the steel industry this way.”
Last week, Trump ordered a import of 25% for all Canadian and Mexican products, only detaining this plan for 30 days. He also brought new buildings to the United States in the amount of 10% on all Chinese goods coming to the United States, which caused revenge from China.
The tariff is an internal tax that is charged from goods when they enter the country, the proportional value of imports.
The prospect of higher import tariffs in the United States causes numerous world leaders because companies sell goods in the world’s largest economy.
Taxes are the central part of Trump’s economic vision. It views them as a way of growing US economy, job protection and increase tax revenue.
But there is also a concern for the effect in the US, when many manufacturers in the US use steel and aluminum in their products and are now faced with the likelihood of additional costs.
Industrial groups from construction to manufacturers warned about the hit.
In the first term Trump tariffs, despite numerous exceptions, increased the average price of the steel and aluminum by 2.4% and 1.6% respectively, the US International Trade Commission reports.
Stephen Moore, who advised Trump on economic issues in 2016 and is currently the senior employee of the Heritage Fund, a conservative thought based in Washington, said he did not think that tariffs on steel and aluminum were effective in creating workers Places, noting the experience, noting the experience of the first term.
He said that when Trump was “deadly” regarding the trade, he thought the plan was “about drawing attention to the rest of the world.”
“Almost everything that Donald Trump does in Washington does is the talks tactics,” he said.
Trump’s representatives said the last steps were aimed at stopping countries such as China and Russia, avoiding tariffs by routing inexpensive products through other countries.
The US president said he represents new standards that require “melting and pouring” and aluminum to “cry and throw” to North America.
A spokesman for prosperity for prosperous America, Nick Jacobla, who represents steel manufacturers and supports tariffs, said his group was most concerned about the splash of steel imports from Mexico, above the level agreed in 2019.
But he noted that Canada sends much more goods to the United States than imports – a trade deficit that has become a key issue for Trump.
“There is still an imbalance with trade relations with Canadians and the US that needs to be addressed,” he said.
He added: “I don’t think they plan to take this approach to this size, but I think at the beginning, at least now, I think the president says … (this) both countries (Canada And Mexico) abuse their relations with the US, and we’re going to do something with that. “
