At a meeting with representatives of the American steel industry, President Donald Trump announced the imposition of a duty on imported steel and aluminum.
“I want our steel and aluminum industries to regain their strength,” said the American president. The documents will be officially signed next week.
The news that the tariffs will be imposed has boosted the stock prices of US steel and aluminum producers. However, some analysts believe that the effect of the levy will be higher prices for products that use metals for which consumers will pay. Countermeasures are expected from China.
Tariffs for steel are set at 25 percent, and for aluminum (and, above all, aluminum foil) - at 10 percent.
In the case of rolled steel, US tariffs would be the most impressive for European producers, followed by Canada and South Korea. In the case of aluminum, China would suffer the most from the tariff.
The American statement could lead to a deterioration in commercial relations.
US will levy duties on imported steel and aluminum
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