The Trump administration has announced it will be imposing tariffs on steel and aluminum from three of America’s biggest trading partners — Canada, Mexico and the European Union.
The trade penalties consist of 25% on imported steel and 10% on imported aluminum.
The three were among the countries granted relief while the United States pursued negotiations to address the Administration’s concerns about the state of domestic steel and aluminum production. It had determined that imports of the metals threatened national security by undermining domestic production in those sectors. Those negotiations had a Friday deadline.
The European Union has already notified the World Trade Organization of plans to levy duties on $7.1 billion worth of U.S. exports in response. The aim is to collect $1.6 billion in tariff revenue. Canada and Mexico have also threatened retaliation.
MWFPA and the canned food industry continue to strongly oppose the tariffs.