March 8, 2018
The finalized plan to impose 25% tariffs on steel imports and 10% on aluminum was unveiled today by President Trump, with exceptions for Mexico and Canada.
It will go into effect in 15 days, the White House announced Thursday.
The plan is based on trade law that allows the president to slap restrictions on imports to protect national security.
Production capacity in the steel and aluminum sectors of the US economy are hurting because of cheap foreign imports, largely blamed on overproduction by Chinese manufacturers, the US Commerce Department said in two recent report.