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President Donald Trump's tariffs on steel imports this week could wreak havoc on American auto manufacturing, industry leaders say.
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Trump's tariffs on steel and aluminum could raise these prices ABC NewsFact Sheet: President Donald J. Trump Restores Section 232 Tariffs The White HouseGet the Facts: Here's how much steel, aluminum Trump tariffs hit WDSU New OrleansNations Denounce Trump Tariff on Metals and Warn of Retaliation The New York Times
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The tariffs will apply widely to all U.S. imports of steel and aluminum, including from Canada and Mexico, among the country's top foreign suppliers of the metals.
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President Trump announced 25% tariffs on steel and aluminum imports. Critics say the tariffs will increase the cost of canned foods for U.S. consumers.
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The president imposed a 25 percent tariff on global metals, copying a move in his first term. Economists and foreign governments know what will come next.
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President Trump has called for a 25% tax on all imported steel and aluminum. That could give a helping hand to domestic steel and aluminum producers, but also raise prices for US businesses and consumers.
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