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Trump increases tariffs on derivative steel, aluminum products from some countries

Published 01/24/2020, 09:54 PM
Updated 01/24/2020, 09:54 PM
© Reuters. FILE PHOTO: U.S. President Trump addresses U.S. mayors at the White House in Washington

© Reuters. FILE PHOTO: U.S. President Trump addresses U.S. mayors at the White House in Washington

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday signed a proclamation increasing tariffs on derivative steel products by an additional 25 percent and boosting duties on derivative aluminum products by an additional 10 percent.

Trump said Argentina, Australia, Brazil, Canada, Mexico and South Korea are exempt from the additional tariffs on derivative steel products, and Argentina, Australia, Canada and Mexico are exempt from the added duties on derivative aluminum articles.

Trump has imposed tariffs on imported steel and aluminum to help boost U.S. production, which he says is a national security issue.

Since the imposition of tariffs, Trump said, imports of steel and aluminum have declined but imports of derivative products, like steel nails and aluminum cables, have increased.

© Reuters. FILE PHOTO: U.S. President Trump addresses U.S. mayors at the White House in Washington

Trump said "foreign producers of these derivative articles have increased shipments of such articles to the United States to circumvent the duties on aluminum articles and steel articles." He said the increased tariffs would be effective on Feb. 8.

Latest comments

the toddler traitor and failed businessman who filed bankruptcy many many times really needs to be removed...for like a hundred million reasons. pick anyone else please.
How about you GIVE one instead? In this country you cant just say youre this that and the third now prove youre not
It is vital for US to stop importing everything. This should have been done years ago, decades ago. Tarrifs are great to defend the US.
No problem. Europe will stop importing US stuff then... matter of self defense...
That’s pretty much what Smoot and Hawley said to pass their bill that started the tariff which caused the Great Depression.
Taxes destroy. TARIFFS DESTROY. Higher prices to the concumer. Higher production costs passed on. Less sales. Higher cost of end product. Job layoffs to follow. World economy contracts. Trump is lunatic to go for the "Easy Fix."
this is big news wonder why it does not even make mainstream news it protects a lot of jobs and give us steel producers customers in the use to sell to
not sure if you've seen steel prices.. but it's doing the opposite due to uncertainty
$AA . wake up
This is fascinating, I suppose democrats would support cheap labour. FASCINATING
Keep the foreign opportunists who make money from cheap labour at bay. FAIR trade !
Roulette !!!
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