Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday” — meaning that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods.

Summary

Donald Trump announced that the U.S. will impose 25% tariffs on all steel and aluminum imports starting Monday, including from Canada and Mexico.

He also plans “reciprocal tariffs” on goods from countries imposing duties on U.S. products.

Markets reacted negatively, with stocks dropping over tariff concerns.

Trump previously paused tariffs on Canada and Mexico but imposed 10% duties on China.

  • TommySoda@lemmy.world
    56·
    2 months ago

    is that how you bring manufacturing back to the US? By making all the materials way more expensive?

    • AreaKode@lemmy.world
      22·
      2 months ago

      Yep. When you’re stuck paying more for the foreign metals, it forces the US suppliers to charge less. Right? 'Murica?

  • catloaf@lemm.eeEnglish
    21·
    2 months ago

    Do you think he announces these on weekends to soften the market drop?

    • Erasmus@lemmy.worldEnglish
      20·
      2 months ago

      Yup this is just him playing the market or at least him scheming with his rich buddies.

      Same with making these stupid comments about Canada as a 51st state. No one in Canada wants to become an American or vice versa. Nothing against Canada. He is just keeps shit like this in the headlines as a distraction while his idiot minions screw up/tear down the government.

  • affiliate@lemmy.world
    8·
    2 months ago

    Trump says he will announce 25% steel and aluminum tariffs Monday

    it sounds to me like he announced them today