Trump Tariff

In+several+places+around+the+FHS+campus%2C+there+are+steel+beams+that+support+the+buildings.+

Taylor Tames

In several places around the FHS campus, there are steel beams that support the buildings.

Gavin Kuncl, Writer

Recently, President Donald Trump outlined a plan to impose heavy tariffs on steel and aluminum, and signed it into law March 8.

The President planned to place a 25 percent tariff on steel and 10 percent on aluminum. The end goal the President has is to reduce the trade deficit and bring the North Atlantic Free Trade Agreement (NAFTA) back to renegotiating terms. The President is quoted as saying on March 2 in a tweet that, “When a country Taxes our products coming in at, say, 50%, and we tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice.” The tariffs would apply to all, with no exceptions for ally, neutral, or enemy nations.

President Trump told Canadian and Mexican officials that he would lift tariffs on steel and aluminum if they concede to renegotiating NAFTA, but neither country wants to back down.

Canadian and European Union (EU) officials have claimed to be creating retaliation tariffs. The EU plans to impose tariffs on American products such as Harley- Davidson motorcycles, Kentucky bourbon, and Levi’s blue jeans. Canada also plans to tariff Kentucky bourbon and Harley- Davidson motorcycles, in addition to possibly blocking distribution of United States made films, and banning US companies from bidding on Canadian defense and infrastructure projects. In response, the President threatened to tax all EU auto imports.

Other presidents have tried to impose similar tariffs. President George W. Bush placed a tariff of 30 percent on imported steel in 2002 with no widespread economic damage or trade wars before being declared illegal in November 2003 and being removed a month later.

 

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