Trump imposes sweeping 25% steel and aluminum tariffs. Canada and Europe swiftly retaliate

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Trump imposes sweeping 25% steel and aluminum tariffs. Canada and Europe swiftly retaliate

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Trump imposes sweeping 25% steel and aluminum tariffs. Canada and Europe swiftly retaliate

//business-finance.news-articles.net/content/202 .. tariffs-canada-and-europe-swiftly-retaliate.html

Published in Business and Finance on Thursday, March 13th 2025 at 18:00 GMT by CNN

President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

In March 2018, former President Donald Trump announced the imposition of a 25% tariff on all imported steel and a 10% tariff on aluminum, citing national security concerns under Section 232 of the Trade Expansion Act. This decision was met with significant backlash from both domestic and international stakeholders, including U.S. allies like the European Union, Canada, and Mexico, who criticized the move as protectionist and potentially harmful to global trade relations. The tariffs were intended to protect American steel and aluminum industries from what was perceived as unfair competition, but they led to retaliatory measures from affected countries, sparking fears of a broader trade war. Despite exemptions and negotiations, the tariffs have remained a contentious issue, affecting industries that rely on these materials and prompting ongoing discussions about trade policy and economic strategy.

Read the Full CNN Article at:
[ https://www.msn.com/en-us/politics/government/trump-ramps-up-tariffs-on-all-imported-steel-and-aluminum/ar-AA1AJw7O ]

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