Commerce Department Recommends New Tariffs on Steel and Aluminum Imports

Опубликовано 16 февраля 2018, 23:31
The Department of Commerce announced Friday that it recommended that President Donald Trump slap new tariffs on steel imports as part of its investigation into the trade of the material. The recommendations were triggered by a complaint under Section 232 of the Trade Expansion Act of 1962, which allows the president to impose restrictions on trade if certain import practices are determined a threat to national security. The Commerce Department launched investigations into steel and aluminum imports in 2017 and presented their findings to Trump in January. The report also recommends similar restrictions on aluminum imports with options of a 7.7% tariff on global imports; a 23.6% tariff on China, Hong Kong, Russia, Venezuela and Vietnam with a quota; or a quota for all countries equaling 86.7% of their 2017 exports to the US. Trump has until April 11 to determine the course of action on the steel imports, but he told lawmakers in a meeting on Tuesday that "substantial tariffs" were a possibility.

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