Yesterday morning, my colleague Dan Ikenson warned of a possible announcment by President Trump related to tariffs on steel and aluminum, to be imposed on "National security" grounds.
Speaking at the White House, the president said he has decided on tariffs of 25 percent for foreign-made steel and 10 percent for aluminum.
"We'll be imposing tariffs on steel imports and tariffs on aluminum imports," the president said.
In late January, Trump signed a Presidential memorandum on "Construction of American Pipelines," and said: "We are - and I am - very insistent that if we're going to build pipelines in the United States, the pipes should be made in the United States. From now on, we're gonna start making pipeline in the United States. We build it in the United States; we build the pipelines; we wanna build the pipe. Gonna put a lot of workers, a lot of steel workers, back to work. Okay. We will build our own pipeline. We will build our own pipes."
He said this: "We have also taken steps to begin construction of the Keystone Pipeline and Dakota Access Pipelines. Thousands and thousands of jobs, and put new buy American measures in place to require American steel for American pipelines. In other words, they build a pipeline in this country, and we use the powers of government to make that pipeline happen, we want them to use American steel. And they are willing to do that, but nobody ever asked before I came along. Even this order was drawn and they didn't say that."
By early March the White House quietly announced that the Keystone XL pipeline would not be subject to a requirement to use American steel.
Is it possible that a similar pullback will happen with the steel/aluminum tariffs? U.S. trading partners, some members of Congress, and U.S. companies that use steel/aluminum will work hard to convince the White House not to go forward.
https://www.cato.org/blog/trumps-latest-tariff-talk
Speaking at the White House, the president said he has decided on tariffs of 25 percent for foreign-made steel and 10 percent for aluminum.
"We'll be imposing tariffs on steel imports and tariffs on aluminum imports," the president said.
In late January, Trump signed a Presidential memorandum on "Construction of American Pipelines," and said: "We are - and I am - very insistent that if we're going to build pipelines in the United States, the pipes should be made in the United States. From now on, we're gonna start making pipeline in the United States. We build it in the United States; we build the pipelines; we wanna build the pipe. Gonna put a lot of workers, a lot of steel workers, back to work. Okay. We will build our own pipeline. We will build our own pipes."
He said this: "We have also taken steps to begin construction of the Keystone Pipeline and Dakota Access Pipelines. Thousands and thousands of jobs, and put new buy American measures in place to require American steel for American pipelines. In other words, they build a pipeline in this country, and we use the powers of government to make that pipeline happen, we want them to use American steel. And they are willing to do that, but nobody ever asked before I came along. Even this order was drawn and they didn't say that."
By early March the White House quietly announced that the Keystone XL pipeline would not be subject to a requirement to use American steel.
Is it possible that a similar pullback will happen with the steel/aluminum tariffs? U.S. trading partners, some members of Congress, and U.S. companies that use steel/aluminum will work hard to convince the White House not to go forward.
https://www.cato.org/blog/trumps-latest-tariff-talk
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