Trump finally signed the proclamations of 25% steel and 10% aluminum tariff yesterday. The new tariffs will take effect in 15 days. He said in the White House, surrounded by steel and aluminum workers, that “we have to protect and build our steel and aluminum industries, while at the same time showing great flexibility and cooperation toward those that are really friends of ours,”
But he backed down from his original position of no exemption. As Canada and Mexico are exempted, pending NAFTA negotiations outcome. And he opened the door for reduction in tariffs for countries that “treat us fairly”.
Trump added “I’ll have a right to go up or down, depending on the country, and I’ll have a right to drop out countries or add countries.” And, “we just want fairness. Because we have not been treated fairly by other countries.”
