“Presidential Proclamation on Adjusting Imports of Aluminum into the United States”
Proclamation: https://t.co/aCaMtOUAl0
Remarks: https://t.co/nypErcqFSU pic.twitter.com/rcrkpvChkz— Donald J. Trump (@realDonaldTrump) March 8, 2018
AMN
US President Donald Trump has signed two proclamations that impose 25 per cent tariff on imported steel and 10 per cent on aluminium.
The contentious tariffs, which will come into effect in 15 days, primarily targets the massive steel and aluminium dumping by China. Only two countries – Canada and Mexico – have been exempted from the new import tariff, that too till the time the North America Free Trade Agreement (NAFTA) negotiations are complete.
Other countries would have to negotiate with US Trade Representatives (USTR) if they want exemptions from the steel and aluminium import tariff. The import tariffs are likely to face retaliation from America’s top trading partners, the European Union and China.
Trump signed the proclamations in presence of steel workers from Pennsylvania, Vice President Mike Pence, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, United States Trade Representative Robert E Lighthizer and economist Peter Navarro, architect of his steel and aluminium policy.
Trump said a strong steel and aluminium industry are vital to US national security. Reiterating that countries – including America’s “friends and allies” – have been fleecing the US economy and taking away jobs for decades, Trump pledged to impose “reciprocal tax”.
