Trump Imposes Tariffs on Steel and Aluminum

The United States will impose new tariffs on steel and aluminum as early as next week, President Donald Trump said Thursday, following disagreement among his advisors about whether to crack down on imports.The U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum, the president said. It will apply the tariffs broadly, without targeting specific countries, and not impose quotas.”People have no idea how badly our country has been treated by other countries. By people representing us who didn’t have a clue,” Trump said, arguing that trade trends “destroyed” American steel and aluminum industries.

Source: President Trump says US will institute steel and aluminum tariffs – CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.