Trump officially imposes tariffs on steel, aluminum
President Trump on Thursday officially ordered a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum, putting him at odds with traditional Republican economic priorities. The tariffs will take effect in 15 days, with carve-outs for Canada and Mexico under the condition that the North American Free Trade Agreement can be renegotiated. "You don't wanna pay tax? Bring your plant to the U.S.A.," Trump urged during his announcement.
Trump added that he is open to exempting certain countries "as long as we can make sure their products no longer threaten our security," referring to the national security provision that has allowed him to impose the new taxes.
Sen. Dick Durbin (D-Ill.) said the tariffs "are like dropping a bomb on a flea," while Sen. Jeff Flake (R-Ariz.) vowed he would introduce legislation to nullify the tariffs. "Flexible tariffs?" Flake said. "What does that mean? One day you wake up and you say, 'I don't like Australia?' I mean, that's unbelievable."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Watch some of Trump's comments below. Jeva Lange
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung


