Zuma / Splash News

Despite Opposition Trump Set To Impose Strict Steel Tariffs

Y’all’s President is looking to apply tariffs and create a 25% increase on steel and 10% increase on aluminum imports. ⠀⠀⠀⠀⠀⠀⠀⠀
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Meaning the tax on these imports would increase by the amount of the tariff. The increase would ultimately make the product more expensive across the country allowing the manufacturers to benefit,  but the companies who use the product will be forced to pay higher prices. ⠀⠀⠀⠀⠀⠀⠀
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This not only affects the U.S. but also our trading partners, who have already threatened retaliatory tariffs if Trump’s moves forward with proposed tariffs creating a possible “trade war”.⠀⠀⠀⠀⠀⠀⠀⠀
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Trump claims his plan will exclude Mexico and Canada, and possibly Australia if they agree to rework the North American Free Trade Agreement. However, many are still opposed to the long-term effects of the proposed tariff plan, including Trump’s top economist, who recently resigned in the wake of the tariff plan. ⠀⠀⠀⠀⠀⠀⠀⠀⠀