Trump plans to institute 25% steel and 10% aluminum tariffs
Trump announces the U.S. will institute steel and aluminum tariffs next week.
Trump’s top advisors disagreed over whether to crack down on imports.
A move would be part of Trump’s broader push for protectionist policies.
The U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum, the president said. It will apply the tariffs broadly, without targeting specific countries, and not impose quotas.
Trump made the announcement as steel and aluminum executives, who back the tariffs, met with administration officials at the White House on Thursday. Confusion surrounded Trump’s announcement as the administration struggled to agree on how to proceed.
This is when companies that rely on their steel and aluminum supply to stay in business, such as manufacturers and fabricators, need to get on a managed inventory program, which will provide inventory and stable pricing.
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