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CNBC: Trump’s tariff plan puts jobs at risk
PMA mentioned in CNBC article.
Friday, March 09, 2018
President Donald Trump fulfilled a long-running campaign promise Thursday in levying tariffs on imported steel and aluminum products after a week of build-up to the announcement. The reaction to the move was divided, with major steel and aluminum players expressing support for the move, some promising job creation, while critics said the tariffs would lead to job losses in other industries.
The order places a 25 percent tariff on imported steel and 10 percent tariff on imported aluminum, which will take effect on March 23. Trump has exempted both Canada and Mexico, trading partners in the North American Free Trade Agreement, the decades-old trade agreement that is currently being renegotiated, but it is unclear how long these countries will remain exempted. There will not be any new taxes placed on American-made products.
"We're urging all companies to buy American — that's what we want," Trump said at the order signing. "The action taken today follows a nine-month investigation by the Department of Commerce documenting a growing crisis in our steel and aluminum production that threatens the security of our nation, and also is bad for us economically."
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