Trump Imposes 25% Tariff On Steel And 10% Tariff On Aluminum
On March 8, 2018 President Trump issued proclamations imposing a 25% tariff on steel and a 10% tariff on aluminum. The primary reasons for these new tariffs were the “threat[s] that imports of steel [and aluminum] articles pose to the national security” and also protection of american steel and aluminum production companies. However, these tariffs may raise costs for products that use steel and aluminum.
Canada, Mexico, and the EU were initially exempt from the tariffs at first, but on May 1, 2018 the Trump Administration announced an additional 30 days of negotiations on new tariffs for these countries/regions.
On June 1, 2018 Canada, Mexico, and the EU were included in the steel and aluminum tariffs.