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Thread: Trump Signs the Section 232 Proclamations on Steel and Aluminum Imports

  1. #1

    Trump Signs the Section 232 Proclamations on Steel and Aluminum Imports

    Trump Signs the Section 232 Proclamations on Steel and Aluminum Imports

    @36:30



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  3. #2
    After a week of hints and uncertainty, President Donald Trump said Thursday he would announce tariffs on imported steel and aluminum but with temporary exemptions for Canada and Mexico as he seeks to revise the North American Free Trade Agreement. He suggested Australia and "other countries" might also be spared, a shift that could soften the international blow amid threats of retaliation by trading partners.Trump's tariffs on steel and aluminum imports will take effect in 15 days, with Canada and Mexico indefinitely exempted from the duties, according to people outside the White House who were briefed on the plans Thursday. The people spoke on condition of anonymity ahead of the president's signing of the orders.
    "We're going to be very fair, we're going to be very flexible but we're going to protect the American worker as I said I would do in my campaign," Trump said during a Cabinet meeting.
    The president reiterated that he would levy tariffs of 25 percent on imported steel and 10 percent on aluminum but would "have a right to go up or down depending on the country and I'll have a right to drop out countries or add countries. I just want fairness."
    The president indicated Canada and Mexico's treatment would be connected to the ongoing NAFTA talks, which are expected to resume in early April.
    The people briefed on the plans said all countries affected by the tariffs would be invited to negotiate with the Trump administration to be exempted from the tariffs if they can address the threat their exports pose to U.S. manufacturers. The people said the exclusions for Canada and Mexico could be ended if talks to renegotiate NAFTA stall.

    More at: https://finance.yahoo.com/news/lawma...052248007.html
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  4. #3
    All week the financial media pundits have been blaming fear over the tariffs for markets dipping (then rising thanks to PPT). Today, the suspense leading up to 3:30 announcement and signing was palpable. Then he signed it and....the markets rose....and closed green.

    It's all so stupid and broken.
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