
Begun, the trade war has.
The Commerce Department is reportedly going to recommend President Trump enact tariffs on foreign steel and aluminum.
President Trump has been agitating for tariffs ever since he took the oath of office. Now he’s about to get cover to push for them.
The scoop comes via Jonathan Swan at Axios:
- Aluminum: 7.7% tariff on all aluminum exports from all countries. 23.5% on all products from China, Russia, Venezuela and Vietnam. A quota on imports from all countries to a maximum of 86.7% of their 2017 exports to the U.S.
- Steel: Global tariff of 24% on all imports. Tariff of 53% (at least) on steel imports from Brazil, China, Costa Rica, Egypt, India, Malaysia, Korea, Russia, South Africa, Thailand, Turkey and Vietnam. A quota of 63% of 2017 exports for the countries listed in the prior sentence. All other countries can export at 100% of 2017 levels, but above that face tariffs.
SCOOP: Commerce to recommend major tariffs on steel and aluminum.. includes 24% global tariff on steel imports.. would be first shots in a trade war… https://t.co/sp87KO2kZg
— Jonathan Swan (@jonathanvswan) February 16, 2018
This move might violate conservative orthodoxy, but remember Donald Trump didn’t run as a conventional conservative. He ran as a nationalist willing to tweak the economy to benefit American workers. And, in his mind, that means charging countries more to ship their raw materials here. President Trump was elected to defend the American worker. He never made any bones about his intention to enact tariffs.
These tariffs fall right in line with Trump’s thinking over the past 30 years. While China has been trying to woo the President in the past few months, it looks like Trump wasn’t satisfied with their efforts.
What do you think about these new tariffs? Do you support them? Will they help American workers? Tell us your thoughts below and share this story over Facebook!