Trump imposes heavy tariffs on metals imports into US
US President Donald Trump has signed two proclamations that will impose a 25% tariff on steel imports and 10% tariff on aluminum imports into the United States. However, two countries viz Canada and Mexico are out of this pronouncement. The tariffs will go into effect within 15 days. The controversial move has sparked the fears of a global trade war. Here are more details.
"Steel is vital, without steel you don't have a country"
Signing the proclamation, Trump said, "Absolutely vital. Steel is steel. You don't have steel. You don't have a country." He further said American industries have been targeted for years and years. "Decades, in fact, by unfair foreign trade practices, leading to the shuttered plants and mills, the laying-off of millions of workers and the decimation of entire communities. That's going to stop," he added.
I am defending America's national security: Trump
Trump said the "unfair" foreign trade practices were not merely an "economic disaster" but a "security disaster" and by signing the two proclamations he was defending America's national security. Trump called the "aggressive" foreign trade practices an "assault on our country." "We want to build our ships, planes, and military equipment with steel and aluminum from our country. Hence, took this decision," Trump added.
Major Asian nations react sharply to Trump's decision
Japan said President Trump's move would have a "big impact" on the countries' close bilateral ties, while China said it was "resolutely opposed" to the decision. South Korea said it may file a complaint with the World Trade Organisation. Trump also pledged to impose "reciprocal tax" on countries like China and India if they do not match America's tariff.
