Donald Trump of 25% of steel and aluminum tariffs enter into force despite the fears of recession
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The 25 -pointed Tariff Donald Trump’s imports to the imports of steel and aluminum in the United States came into force on Wednesday, as he continued to carry out his protectionist trade agenda despite the increasing concern for the risk of domestic recession.
President announced last month That they would impose duties, breaking several agreements that reached between his predecessor Joe Biden and US trade partners to enable certain amounts of steel and aluminum to enter the customs.
U.S. Officials under Trump framed the move in response to “foreign players” who say they are responsible for the “increase in export” of metal to America who undermine domestic producers.
Trump will also expand metals tariffs To apply a wide range of products containing steel and aluminum, including tennis rackets, bicycles for exercise, furniture and air conditioning.
The White House has confirmed that derivative products will be applied from Wednesday.
This move is part of a wider package of protectionist measures that Trump introduced since he took over his duty in January. His efforts have crumpled investorsHe caused a fear of American recession and broke out with some of the closest American allies.
Australian Prime Minister Anthony Albanese said on Wednesday that the tariffs were “completely unjustified” and “against the spirit of” “permanent friendship” of the people.
Australia was released from similar tariffs carried out during Trump’s first term, and steel manufacturers in the country supply American defense and production.
“This is not a friendly act,” Albanese said.
Trump announced on Tuesday that he would double the tariffs applied to the imports of steel and aluminum from Canada to 50 percent, which marked escalation in his trade war with one of the first three US trade partners, before Reverse course Later during the day.
The Canadian Province of Ontario, which announced a 25 percent compensation on Monday, which was exported to the United States, said on Tuesday that she would suspend the accusation in an attempt to deny Tarife Tit-Za-Tat.
A complete list of steel and aluminum products that are susceptible to levies that in 2024 represented $ 151 billion in imported goods, according to the analysis of Simon Evette and Johannes Fritz of St Gallen for prosperity through the trade.
Ted Murphy, a partner at Sidley Austin’s law firm, said Trump’s sweeping of new metal tariffs were a “big change” from his approach when he introduced similar levies in 2018 and allowed the exclusion for some products.
“The exemption of the products were checked through the US Government process to confirm that the products were not available in the US,” Austin said. “So take -off that will mean that many people will have to pay a tariff because they can’t do these products in the country.”
Additional Nic Fildes reporting in Sydney
