Trump signs order to hike tariff on steel, aluminium

Washington, March 9: US President Donald Trump on Friday imposed heafty tariffs on imported steel and aluminium, citing national security concerns and the need to protect American industries from “unfair” business practices, triggering fears of a global trade war.

Mr Trump signed two proclamations that levied a 25 per cent tariff on steel and a 10 per cent tariff on aluminium imported from all countries except neighbouring Canada and Mexico. The contentious tariffs will go into effect in 15 days.

Other countries would have to negotiate with US Trade Representatives if they want exemptions from the steel and aluminium import tariffs.

Mr Trump, who was surrounded by steel and aluminum workers at a White House event, said strong steel and aluminium industries were vital to the US national security.

“Absolutely vital. Steel is steel. You don't have steel. You don’t have a country. Our 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 said.

Mr 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.

“We want to build our ships, we want to build our planes, we want to build our military equipment with steel, with aluminium from our country. And now we’re finally taking action to correct this longoverdue problem. It’s a travesty,” he said.

Mr Trump said he wants a lot of steel coming to the US, but asserted that it should be “fair”.

“We want our workers to be protected and we want, frankly, our companies to be protected. By contrast, we will not place any new tax on product made in the US. So there’s no tax if a product is made in the USA. You don’t want to pay tax? Bring your plant to the USA. There’s no tax,” he said.

The action being taken, the president said, follows a nine- month investigation, documenting a growing crisis in US steel and aluminium production that threatens the security of the country. It is also bad for US economically and with jobs, he rued.