Speed Reads

This just in

Trump expected to formally impose tariffs at Thursday meeting

President Trump announced a White House meeting on Thursday, where he is expected to sign a formal order to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, NPR reports.

"We have to protect & build our steel and aluminum industries while at the same time showing great flexibility and cooperation toward those that are real friends and treat us fairly on both trade and the military," Trump tweeted.

White House Press Secretary Sarah Huckabee Sanders confirmed Wednesday that "there are potential carve-outs for Mexico and Canada, based on national security, and possibly for other countries as well." The statute under which Trump has authority to impose tariffs calls for a two-week implementation period that would give affected countries and companies time to lobby for changes, although Trump has said offering some countries exemptions would create problems.