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President Trump is expected to formally order 25% duties on steel imports and 10% duties on aluminum imports this afternoon at a White House event with steel and aluminum workers. Trump’s initial announcement applied the tariffs worldwide, but he is now considering exemptions for Canada, Mexico, among other countries.
While domestic steel and aluminum workers welcome the tariffs, critics worry the levies may ignite a global trade war and undermine the nation’s security despite claims to the opposite. Domestically, the tariffs would increase the costs of all steel and aluminum products including cans, pipelines, and defense industry products. In addition, a trade war would affect jobs and harm the agriculture industry, which depends heavily on the export market. Globally, the tariffs are expected to especially impact China, which produces almost as much steel per month as the US does per year.
The following AEI economists are available to comment on the domestic and global implications of President Trump’s decision to impose tariffs: Claude Barfield (international trade, GATT/WTO system) , Derek Scissors (trade and trade barriers, economic and trade relations with China and other Asian countries), Vincent Smith (agricultural trade and domestic economic policy), Mark Perry (US economy including energy).
To arrange an interview with an AEI scholar, please contact AEI Media Services at mediaservices@aei.org or 202.862.5829.
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