New tariffs:
25% increase on steel
10% increase on aluminum
232: In early 2017, the Administration initiated Section 232 investigations into whether imports of steel and aluminum threaten to impair the National Security. Those investigations found that the quantity of steel and aluminum imports and the circumstance of global excess capacity threaten to impair the national security. The President is now considering proposals, including quotas and tariffs, in order to adjust imports to a level that does not threaten to impair the national security.
Other countries promised to retaliate against quintessential American goods like Kentucky bourbon, bluejeans and Harley-Davidson motorcycles.
"Big FN deal",
25% increase on steel
10% increase on aluminum
232: In early 2017, the Administration initiated Section 232 investigations into whether imports of steel and aluminum threaten to impair the National Security. Those investigations found that the quantity of steel and aluminum imports and the circumstance of global excess capacity threaten to impair the national security. The President is now considering proposals, including quotas and tariffs, in order to adjust imports to a level that does not threaten to impair the national security.
Other countries promised to retaliate against quintessential American goods like Kentucky bourbon, bluejeans and Harley-Davidson motorcycles.
"Big FN deal",
- Everyone keeps buying booze, just like cigarettes regardless of cost.
- Do we still make bluejeans? Levis moved out.
- Harley Davidson Motorcycles: they don't buy them anyway.
PS: Tariffs can be changed at anytime to adjust for circumstances
The US is currently the world’s largest steel importer.
But this was not the first time President Trump talked about taxing foreign products.
In 2011 Donald Trump went on a profanity-laced speech in Las Vegas where he promised to tax China imports by 25% if they continued to manipulate their currency.
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