Trump ratchets up trade war with expected steel and aluminum tariffs – Washington Examiner
The summary centers on President Donald Trump’s announcement regarding new tariffs on steel and aluminum imports, intending to escalate the ongoing trade war. Trump confirmed a 25% tariff on these metals, which is expected to be imposed in the near future, amidst existing tariffs. White House economic adviser Kevin Hassert supported the plan, indicating a forthcoming official announcement. The tariffs have provoked some backlash from allies like Canada and Mexico, who had previously negotiated delays by promising to address illegal immigration and drug trafficking. Additionally, there are expected reciprocal tariffs to be announced later this week, as Trump aims to equalize trade practices with partners who impose higher tariffs on U.S. goods. The escalating tensions also include retaliatory measures from China,which has begun implementing its tariffs on various U.S. products in response to Trump’s recent tariffs on Chinese goods.
Trump ratchets up trade war with expected steel and aluminum tariffs
President Donald Trump’s trade war will escalate this week, with another round of tariffs expected on allies and Chinese retaliatory duties on U.S. goods.
Trump announced on Sunday that he would implement 25% tariffs on steel and aluminum imported into the United States, and on Monday a top White House economic adviser told the Washington Examiner that remained the plan.
“The president has spoken about what he wants to do today, and we’ll see how the calendar works, but we expect an announcement,” White House National Economic Council director Kevin Hassert said outside the West Wing.
Hassert downplayed the upset from allies and trading partners, such as Canada, to the coming announcement after Canada and Mexico last week negotiated a monthlong delay in across-the-board 25% duties by promising to take action against illegal immigration and drugs, particularly fentanyl.
“Let’s wait and see what comes out,” he said.
Trump told reporters Sunday on Air Force One, en route to the Super Bowl in New Orleans, that the steel and aluminum tariffs would be imposed on top of already existing duties, but he did not specify when they would take effect. Canada and Mexico were exempted from similar tariffs during the president’s first administration, but duties on the European Union were not lifted until former President Joe Biden entered office.
Trump views tariffs as “beautiful,” using them to protect U.S. jobs and raise revenue, though critics contend they also raise consumer prices.
Monday’s steel and aluminum tariffs precede a separate announcement later this week regarding reciprocal duties, which Trump previewed last week during his press conference with Japanese Prime Minister Shigeru Ishiba.
“The president’s talked about reciprocal tariffs since I first met him in 2017,” Hassert told the Washington Examiner. “He thinks that it’s not fair that we have trading partners that charge tariffs two or three times what we charge.”
Earlier, during an interview with CNBC, Hassert cited India as an example of an ally and trading partner with “enormously high” tariffs compared to the U.S. Indian Prime Minister Narendra Modi is scheduled to be at the White House on Thursday.
After Trump’s announcement on Sunday, Ontario Premier Doug Ford, who is seeking reelection, took to social media to excoriate the president and predicted more “chaos” over the “next four years.”
“Shifting goalposts and constant chaos, putting our economy at risk,” he wrote.
Ontario has been running ads, including during Sunday’s Super Bowl, promoting the province as a U.S. “ally to the north.”
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Trump’s steel and aluminum tariffs coincide with China’s retaliatory trade measures against the U.S. beginning, after the president last week placed an additional 10% duty on all Chinese goods.
China’s levies include a 15% tariff on coal and liquefied natural gas and a 10% duty on oil, agricultural machinery, and large-engine cars, in addition to export controls on 25 rare metals. China also began an anti-monopoly investigation into Google and added PVH, which owns Calvin Klein and Tommy Hilfiger, to its “unreliable entity” list.
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