President Trump announced on Thursday, March 1, that he will impose tariffs on imports of certain steel and aluminum products. We anticipate the President will formally sign the trade measures announced today next week and that they will include an additional tariff of 25% on imports of steel products and 10% on imports of aluminum products covered under the proclamation.
President Trump invited over a dozen steel and aluminum company executives to the White House Thursday morning for a meeting to review his decision. As of Thursday, we understand that White House advisers are still discussing various measures and it is possible that the final measures announced next week could differ than those indicated in today’s announcement. Additionally, certain questions remain to be clarified concerning the scope of the sanctions, countries affected and procedures for exemptions.