Reuters
President Donald Trump said he would announce an import tax of 25% on all steel and aluminum entering the United States, a decision that will have the greatest impact in Canada.
Trump also said that there would be an announcement later in the week on reciprocal prices on all countries that impose taxes from the United States, but he did not specify which nations would be targeted, or if There would be exemptions.
“If they charge us, we charge them,” said Trump.
He told journalists from his plans during his trip from his Mar-A-Lago station to Florida at the Super Bowl in New Orleans on Sunday.
Canada and Mexico are two of the largest steel trading partners in the United States, and Canada is the largest aluminum metal supplier in the United States.
During his first mandate, Trump put prices of 25% on steel imports and 10% on aluminum imports from Canada, Mexico and the European Union.
But the United States has concluded an agreement a year later with Canada and Mexico to end these prices, although taxes on the import of the EU remained in place until 2021.
Speaking aboard the Air Force One, Trump said on Monday that he would announce prices on “everyone” for steel and aluminum.
“Any steel entering the United States will have a price of 25%,” he said.
In response, Doug Ford, the Prime Minister of the province of Ontario, accused Trump of “moving the goal posts and constant chaos, endangering our economy” in an online article. Canada steel production is concentrated in Ontario.
Trump’s comments also caused the decline in steel and South Korean cars. South Korea is a large steel exporter in the United States.
The shares of the Steel Company Posco Holdings dropped up to 3.6%, while those of Hyundai Steel dropped up to 2.9%.
Those of the car manufacturer Kia Corp also dropped by 3.6% during trading early in the morning.
The Trump movement marks another major escalation in Trump’s trade policy, which has already sparked reprisals from China.
Reuters
Trump participated in a meeting and greetings, in particular with family members of the victims of the Truck attack in New Orleans earlier this year
Prices are a central element of Trump’s economic vision – he considers them as a means of developing the American economy, protecting jobs and increasing tax revenue.
Earlier this month, Trump threatened to impose 25% import rights on Canadian and Mexican products, but then delayed this plan for 30 days – until early March – after talking to the leaders of two countries.
He also brought new American samples of 10% to all Chinese products in the United States. Beijing retaliated with its own set of prices which entered into force on Monday.
Trump also said that he would announce more prices in tit-range on “Tuesday or Wednesday” and that they would take effect “almost immediately” after the announcement.
“Those who take advantage of the United States, we are going to have reciprocal (prices),” he said. “It will be great for everyone, including other countries.”
During the trip to New Orleans, Trump also signed a proclamation designating on February 9 “Gulf of America” to celebrate his renowned order of the Gulf of Mexico, while his plane crossed the body of water.
Mexico argues that the United States cannot legally change the name of the Gulf because the UN rules dictate that the sovereign territory of an individual country extends only up to 12 nail miles on the coast.
We also asked Trump if he had spoken to Russian President Vladimir Putin and replied: “I don’t want to talk about it, and if we are talking about it, I don’t want to tell you about the conversations too early, but I do it believe that We are progressing.
“I imagine that I would meet Putin at the right time … at the appropriate moment,” he said.
Trump also repeated his improbable suggestions that the United States could take over Canada and the Gaza Strip, saying that Canada would get out of it better as “51st state” and that it was “determined to buy and to have Gaza “.
