Donald Trump to announce the raft of new commercial tariffs including steel ncvrs.com

President Donald Trump said he would announce a 25% import tax on all steel and aluminum entering the United States, which will have the most impact in Canada.

Trump also said that later announcements of the week are about taxable tariffs from the United States in all countries, but he did not determine which nations aimed at or, if there was an exemption.

“If we charge us, we will be eliminated,” Trump said.

He told reporters about his plans as he traveled to Super Bowl in New Orleans from the Mar-A-LAGO resort in Florida on Sunday.

Canada and Mexico are two largest steel trade partners in the United States and Canada is the largest aluminum metal supplier in the United States.

During his first cycle, Trump gave 25% tariffs to import steel, 10% for aluminum imports from Canada, Mexico and the European Union.

But the United States a year later an agreement With Canada and Mexico to eliminate these tariffs, although EU imported taxes remained in place until 2021.

Speaking on board Air Force One, Trump said on Monday that he would announce the tariffs on steel and aluminum “everyone”.

“Steels arriving in the United States will have a 25% tariff,” he said.

In response, Doug Ford, Prime Minister of Ontario, accused Trump of “changing goalkeepers and constant chaos and endangering the economy” in an online post. Canadian steel production is concentrated in Ontario.

Trump’s comments also fall off stocks from large South Korean steel and car manufacturers. South Korea is one of the most important steel exporters in the United States.

Posco Holdings steel shares fell 3.6%, while Hyundai Steel fell 2.9%.

Kia Corp also dropped 3.6% in early morning trade.

Trump’s Movement Mark another major escalation In Trump’s commercial policy, which has already triggered his retaliation from China.

Tariffs are a central part of Trump’s economic vision – they see them as a way of growth in the US economy, job protection and increasing tax revenues.

At the beginning of the month, Trump threatened to represent a 25% import task for Canada and Mexican products but later delayed this plan for 30 days – By the beginning of March – after talking to the leaders of both countries.

He also brought 10% new US fees to Chinese goods coming to the United States. Beijing retaliated with his own tariffs which entered into force on MondayOr

Trump also said that “Tuesday or Wednesday” will announce more secretarifies and that they would come into force “almost immediately” after the announcement.

“Those who take advantage of the United States will be mutual (tariffs),” he said. “It will be great for everyone, including other countries.”

During the New Orleans trip, Trump designated a “American Gulf” day to celebrate the renaming of Mexico, when his plane crossed the water body.

Mexico Claims that the United States cannot legally change the name of the bay As the rules of the UN claim that the sovereign area of ​​each country extends only 12 nautical miles from the beach.

Trump was also asked if he spoke to Russian President Vladimir Putin and replied, “I don’t want to talk about it, and if we talk, I don’t want to tell you about conversations too early, but yes, we’re moving.”

“I can imagine seeing Putin at the right time … at the right time,” he said.

Trump also reiterated his unlikely suggestions that the United States would take over Canada and the Gaza Strip, saying that Canada is behaving better than “State 51” and “committed to buying and possessing gas.”