WASHINGTON ― President Donald Trump’s decision to impose steep tariffs on steel and aluminum imports drew rare bipartisan criticism from lawmakers, who warned the move could trigger a transatlantic trade war and hurt U.S. companies.
Trump signed proclamations Thursday allowing tariffs of 25 percent on steel and 10 percent on aluminum to take effect later this month.
“The American aluminum and steel industry has been ravaged by aggressive foreign trade practices. It’s really an assault on our country,” Trump said during a hastily arranged event at the White House.
Surrounded by a group of steelworkers, Vice President Mike Pence, Treasury Secretary Steven Mnuchin, and Commerce Secretary Wilbur Ross, Trump approvingly cited President William McKinley, a champion of protectionist economic policy, to support his trade decision.
“Many of the countries that treat us the worst on trade are our allies,” Trump added.
Source : Yahoo
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