The president imposed a 25 percent tariff on global metals, repeating a move from his first term. Economists and foreign governments know what will come next.
A wholesale steel market in Shenyang, China, last year. U.S. metal makers have been lobbying the Trump administration for protection against foreign competition.
President Trump is tough on China when it comes to trade. He especially points to one number to say we’re being ripped off: our trade deficit. Ana Swanson, who covers trade and international economics for The New York Times, explains Trump’s approach to lowering the trade deficit with China and why some economists question his strategy.
The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.
A steelworker at Steel Speed fabrication shop in Ontario. President Trump said on Sunday that he would impose a 25 percent tariff on foreign steel and aluminum imports, including those from Canada and Mexico.
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