Trump Defies Advisers, US Allies, To Impose Steel And Aluminum Tariff
By: Kayla Pasacreta
Trump signing the order, photo via New York Times
Thursday afternoon Trump officially signed a controversial order that will impose steep tariffs on steel and aluminum. Trump is making the move in hopes of combatting "unfair trade" and helping the average American worker.
The order imposes a 25% tariff on steel and a 10% tariff on aluminum. The tariffs will go into effect in 15 days, and Canada and Mexico will both be exempt from the tariffs. Trump will also reportedly allow other US allies to petition to be exempt. Experts warn a trade war will undoubtedly arise as a result of the tariffs, but Trump insists the US will win the trade war.
However, critics fear the move is too hasty and will have a negative impact on the economy. Despite the opposition from critics, US allies, and Trump's own chief economic adviser, Trump moved forward with the plan; causing the resignation of White House chief economic adviser Gary Cohn. GOP lawmakers on Capitol Hill also spent the entire week trying to convince Trump to change his decision. Senator Jeff Flake (R-AZ), stated that many Senators are ready to bring forward legislation to null the tariffs, "If it’s anything approximating what he’s talking about, introduce legislation to nullify it. I’m assuming I’m not going to be the only one doing that,” Republican Senator Jeff Flake also weighed in, “There are numbers of people — not just him, but numbers of people — trying to figure out the way to take back the ability of a president to do this period. I’d look at it for sure,” According to BBC, International Monetary Fund chief Christine Lagarde also warned that "nobody wins" in a trade war, and the tariffs could harm global economic growth.
