Trump’s intentions to impose steel, aluminum tariffs draw responses
When meeting with steel executives last week at the White House, President Donald Trump said he intended to impose tariffs on imported steel and aluminum, 25 and 10 percent, respectively. The expected move aligns with other decisions reviewing and potentially limiting international trade.
“As a key NORAD and NATO ally, and as the number one customer of American steel, Canada would view any trade restrictions on Canadian steel and aluminum as absolutely unacceptable, said Chrystia Freeland, Canadian Minister of Foreign Affairs. “Any restrictions would harm workers, the industry and manufacturers on both sides of the border. The steel and aluminum industry is highly integrated and supports critical North American manufacturing supply chains. The Canadian government will continue to make this point directly with the American administration at all levels.
However, U.S.-based Cleveland-Cliffs is applauding the intent to impose a steel tariff.
“We applaud and thank President Trump for taking real action under Section 232 to punish the perpetrators and enablers of unfairly traded steel,” said Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, nothing that such a tariff would support the company’s ability to continue to produce iron ore pellets and steel domestically.
“Going forward, we expect that the administration will fully enforce the announced actions, making sure that the offenders, particularly the enablers within our borders, will be treated as seriously as they deserve,” Goncalves said.