Determined to protect vital American industries, President Donald Trump declared Thursday that he will impose tariffs on steel and aluminum imports, dramatically raising the possibility of a trade showdown with China and other trading partners.
Trump summoned steel and aluminum executives to the White House and told them that next week he would levy penalties of 25 percent on steel and 10 percent on aluminum imports. Those tariffs, he said, will remain for “a long period of time.”
“What’s been allowed to go on for decades is disgraceful. It’s disgraceful,” Trump told them in the Cabinet Room. “You will have protection for the first time in a long while and you’re going to regrow your industries.”
Increased foreign production, especially by China, has driven down prices and hurt U.S. producers, creating a situation the Commerce Department calls a