Economy

Trump Announces Taxes on Steel, Aluminum Imports

JM Ashby
Written by JM Ashby

This is gonna be bad.

Trump unilaterally announced this morning that his regime will impose tariffs on imports of steel and aluminum next week. Trump made the announcement in front of steel and aluminum executives who obviously loved it.

WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week.

At a meeting with U.S. industry officials at the White House, Trump vowed to rebuild American steel and aluminum industries, saying they had been treaded unfairly by other countries for decades.

I say Trump "unilaterally" made the announcement because, according to various reports and statements, the majority of Trump's advisers including his chief economic adviser Gary Cohn oppose the tariffs. Trump's announcement also wasn't on the official schedule released this morning and members of Congress weren't aware of the announcement until reporters asked them about it in hallways of the capital this afternoon.

There have also been reports that Trump made the announcement today because he's "furious" about the embarrassment and implosion of his administration from Ben Carson's expensive dining table to Hope Hicks' abrupt resignation and the continuing investigations of virtually every single person close to him.

A trade war that will cost thousands of jobs and probably increase the price of beer cans is quite a distraction I suppose.


  • Aynwrong
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  • muselet

    Donald Trump will impose tariffs on imported steel and aluminum next week (unless someone jingles their keys to distract him).

    Steel- and aluminum-producing countries will immediately lodge a complaint with the World Trade Organization.

    The WTO will rule against the US.

    The US will become even more isolated from the rest of the world.

    That much is clear and inevitable. Beyond that, though, it all becomes speculative.

    Will Trump respond by launching an all-out trade war? Will he withdraw the US from the WTO? Will his impetuousness precipitate another recession (or even a depression)?

    All this, because the various grifters and mountebanks surrounding Donald Trump keep getting caught.

    Is it 2020 yet?

    –alopecia

    • I would totally be up for jingling some keys but the tariffs have made keys too expensive for me.

    • Scopedog

      Someone should point this out to the assholes who insisted (and still do) that Hillary would have been worse.

      • Draxiar

        Yesterday I heard one of my coworkers go off about Uranium One. Every “fact” he spoke of was wrong.