Trump to impose tariffs on steel, aluminum; Canada, Mexico exempt for now

WASHINGTON -- President Trump said Thursday he will impose tariffs of 25 percent on foreign steel and 10 percent on foreign aluminum, despite a torrent of opposition from foreign allies, allies in Congress and the business community.The action is designed to protect the domestic steel industry from global overcapacity and depressed prices that experts blame on Chinese industrial policies.Trump said the tariffs temporarily will not apply to Canada and Mexico, pending the outcome of the NAFTA negotiations.It was not immediately clear what type of document the president signed. Initial indications from the White House are that the President signed a proclamation, signaling his intentions. But a proclamation is not an executive order and does not carry the force of law, so how the process will unfold from here is uncertain.The President also said other countries will be able to apply for exemptions based on their contributions to U.S. national security and how much they pay into alliances such as NATO.“If the same goals can be accomplished by other means, America will remain open to modifying, or removing the tariffs for individual nations as long as we can agree on a way to ensure that their products no longer threaten our security,” Trump said during a televised announcement from the White House.U.S. Trade Representative Robert Lighthizer will be in charge of negotiating with other countries who want exemptions, he said.The tariffs will not go into effect until 15 days. The announcement left open the possibility that the process for implementing the penalties is still open to negotiation. The White House said there will be a mechanism for U.S. parties to apply for exclusion of specific products based on demand that is unmet by domestic production or on specific national security considerations. The Department of Commerce, in cooperation with other agencies, will handle that process.

Trump to impose tariffs on steel, aluminum; Canada, Mexico exempt for now

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