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.
Subscribe to 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.
-
Magazine solutions - December 27, 2024 / January 3, 2025Puzzles and Quizzes Issue - December 27, 2024 / January 3, 2025
-
Magazine printables - December 27, 2024 / January 3, 2025Puzzles and Quizzes Issue - December 27, 2024 / January 3, 2025
-
Why ghost guns are so easy to make — and so dangerousThe Explainer Untraceable, DIY firearms are a growing public health and safety hazard
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
