International

AMERICA FIRST: Trump SLAMS EU, Canada, Mexico with STEEL Tariffs

posted by Hannity Staff - 5.31.18

President Trump announced Thursday his plans to levy hefty tariffs on steel and aluminum on key US allies, including the European Union, Canada, and Mexico; making good on a signature campaign promise to help shield American-made products from foreign goods.

Despite the initial plan to exempt North American nations from the tariffs, the administration unveiled the new guidelines after failing to win specific trade deals with both Canada and Mexico.

Commerce Secretary Wilbur Ross said the new taxes will be a 25% surcharge on steel and 10% on aluminum; adding the tariffs could be removed in future talks while renegotiating the North American Free Trade Agreement, or NAFTA.

“The European Union has already notified the World Trade Organization of plans to levy duties on $7.1 billion worth of U.S. exports in response, with the aim of collecting $1.6 billion in tariff revenue,” writes Politico.

“We continue to be quite willing and indeed eager to have further discussions,” Ross added.