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WASHINGTON, March 1 (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.
If a trade war breaks out, all sides end up losing.
Nope. When you lose your #1 Customer, YOU have the problem. America can only gain jobs. In the short term, any short fall can be met by Indian Factories, they'd be glad of the work.
Does India have excess capacity? They are now the fastest growing economy, and will need a lot of steel and basic materials.
Maybe we can make 95% of it, and toss 5% to the rest of the world as a nice bit of scrap.
said Bob Miller, chief executive of NLMK USA, a Russian-owned steel producer
Our glory days for steel are done - finished - not coming back anywhere near to where is was - ever, even in case of a new world war.
Granite City Works has two blast furnaces. Both plants and its steel-making facilities were idled in December 2015. The company idled its hot strip mill in January 2016. The hot strip mill was restarted in February 2017.
Want to try shipbuilding ?
So US should invest more in infrastructures and education, and finance this by taxing more, reducing the deficit. And also raise rates to reduce debts, even at the price of less growth.
Trump signs aluminum and steel tariff order that will take effect this month – but EVERY country on earth will be invited to negotiate exemptions from 'flexible' policy
New tariffs of 25 per cent on imported steel and 10 per cent on aluminum will go into effect in 15 days, but Canada and Mexico will be spared from the start
Every other nation that has a 'security relationship' with the U.S. will be able to petition for exemptions
Senior official said earlier in the day that talk of retail price hikes because of raw material costs is just 'fake news'
Confusion reigned overnight in Washington with competing news outlets reporting that Thursday tariff signing was on, then off – or perhaps a maybe
Trump tweeted cryptically about a 'meeting' on Thursday, not a signing event, but the White House held the ceremony on schedule
Republicans in Congress had warned the president about economic consequences of a trade war, leaving him unsure about following through
WASHINGTON, March 1 (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.