Trump to announce 25% steel and aluminum tariffs in latest trade escalation

The Manila Times

Trump to announce 25% steel and aluminum tariffs in latest trade escalation  US President Donald Trump said on Sunday, February 9, that he will announce on Monday new 25% tariffs on all steel and aluminum imports into the US, which would come on top of existing metals duties in another major escalation of his trade policy overhaul.  Trump, speaking to reporters on Air Force One, on his way to the NFL Super Bowl in New Orleans, also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately.  Trump during his first term imposed tariffs of 25% on steel and 10% on aluminum, but later granted several trading partners duty-free quotas, including Canada, Mexico and Brazil.  US NETWORK POOL / REUTERS VIDEO  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe   Visit our website at https://www.manilatimes.net   Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion   Subscribe to our Digital Edition - https://tmt.ph/digital   Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Tune In: https://tmt.ph/tunein  #TheManilaTimes #worldnews  #donaldtrump  #tarrifs

Transcript

00:00I don't want U.S. Steel being owned by a foreign country.

00:05They can have, they don't have a controlling, they have an investment.

00:09All they're going to have is an investment.

00:11U.S. Steel for 15 years was the greatest company in the world, the greatest number one company

00:16in the world, and I'm not going to let another country buy it.

00:20We had a great meeting on that, but they are allowed to invest in it, and that's different.

00:24I'll be announcing probably Tuesday or Wednesday at a news conference, reciprocal tariffs and

00:30very simply, it's if they charge us, we charge them.

00:33That's all.

00:34When is it going to impact, sir?

00:36Almost immediately, but I'll be announcing the details of it, highly detailed,

00:41and it'll be great for everybody, including the other countries.

00:44But if they are charging us 130% and we're charging them nothing,

00:49it's not going to stay that way.

00:51Every country will be reciprocal.

00:53That's right.

00:53Everything.

00:55Won't affect everybody because there's somewhere we have similar tariffs,

00:59but the ones that are taking advantage of the United States,

01:02we're going to have a reciprocity.

01:04It's reciprocal.

01:06We're going to have a reciprocal tariff.

01:07But we'll have a news conference Tuesday or Wednesday.

01:10Tomorrow?

01:11Monday, yeah.

01:12Tomorrow.

01:13What countries will those go on?

01:14Everybody.

01:15Steel.

01:16Including Canada and Mexico?

01:17Yeah.

01:17Any steel coming into the United States is going to have a 25% tariff.

01:22What about aluminum, sir?

01:24Aluminum too.

01:2510%?

01:26No, 25%.

01:2725 for aluminum as well?

01:2825.

01:29Nobody can have a majority stake for U.S. Steel.

01:32They can for other companies, but not for U.S. Steel.

01:35I think you agree with that.

01:36U.S. Steel was one of our great companies.

01:39And through a lot of stupidity and bad government and also bad management of the company,

01:45it lost that luster.

01:46But it's going to gain it back.

01:48And tariffs are going to help.

01:49Tariffs are going to make it very successful.

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