Home Economics Trump says he’ll impose a 25 per cent steel tariff, which could spark trade wars and ‘decimate’ Canada’s industry

Trump says he’ll impose a 25 per cent steel tariff, which could spark trade wars and ‘decimate’ Canada’s industry

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The steel tariff will be 25 per cent, the aluminum tariff 10 per cent, Trump announced at the White House on Thursday. He said he will impose the tariffs “next week,” that they will last “for a long period of time,” and that they will bring back jobs stolen by countries that have acted unfairly.

“We’re going to take care of the situation, OK? So steel and aluminum will see a lot of good things happen. We’re going to have new jobs popping up. We’re going to have much more vibrant companies,” he told steel and aluminum executives at the White House.

“People have no idea how badly our country has been treated by other countries, by people representing us that didn’t have a clue. Or if they did, then they should be ashamed of themselves, because they’ve destroyed the steel industry, they’ve destroyed the aluminum industry, and other industries, frankly.”

Because the announcement was made hastily, and because Trump did not sign anything on Thursday, crucial details remain unclear. Most pressingly for Canada: whether Canada will be exempted, as it was from the steel tariff imposed by Republican George W. Bush in 2002.

Trump did not mention an exemption for any country on Thursday.

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