Trump's Plan for Tariffs on Steel, Aluminum: What You Need to Know

President Donald Trump plans to impose 25% tariffs on all imports of steel and aluminum into the US, broadening his trade salvo and threatening ties with some of the country's top trading partners. speaking to reporters Sunday on Air Force One, Trump said the tariffs would apply to imports of the metals from all countries. Asked whether major suppliers Mexico and Canada would be included, he said the levies would cover "everybody." He didn't specify when the duties would take effect. Trump didn't clarify whether or not imports of metal from China would face double tariffs, given he has already imposed a 10% tariff on Chinese goods. Our EMEA News Director Rosalind Mathieson joins Stephen Carroll on Bloomberg Radio.
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[@mikebarbee2217]

What you need to know: PRICES ARE GOING UP

[@andrewgeorgelang]

Blood Pressure Too

[@InformantNet]

"Tariffs. It's a beautiful word, tariffs. Nobody had ever heard the word tariffs, but then I started using it. I have no idea what it means, but if I keep saying it, you dopes will keep cheering."

[@donaldsimpson4148]

"Counter tariffs" sound better!

[@rbtgoodson]

He has a degree from Wharton, and he's being advised by an economics professor from MIT, etc. In other words, we'll be fine. The US was built on the back of tariffs.

[@InformantNet]

@rbtgoodson Trump was a legacy admission to Wharton, and a transfer. He refused to release his transcript, but his classmates and people who knew him said he was a bad and lazy student. He thinks foreign countries pay tariffs! His economic advisors are hand-picked politicos from the Heritage Foundation with a far-right agenda. Trump is a literal criminal, rapist, idiot, liar, and he has Alzheimer's. "We" will most definitely not be alright.

[@lizliz4186]

​@@rbtgoodsonand his teacher from Wharton is on the record saying he was the dumbest student they ever had. Multiple award- winning economists from around the world have said this is a horrible economic plan. But, yeah...ok... Maybe one dumb student and one other person think this is a good idea. Sure, blindly follow the guy who's bankrupted every business he owned, including a casino). Have you googled what happened to the US when they introduced tariffs after the great Depression? Give it a try.

[@dannythedeity]

@@lizliz4186 Not sure how someone can be so wrong and think they’re an authority on anything. Or maybe you’re just lying through your teeth. Trump has ownership stakes in approximately 500 companies SIX of which filed for chapter 11 bankruptcy. As for the Great Depression, duh, we were literally at our weakest point in history. We bluffed, and other countries called it. Now, we’re a global power. Nothing to do with tariffs.

[@Searching_for_the_truth789]

You think the price of vehicles are bad now.

[@Bretware904]

It's crazy people are living vicariously through this buffoon that made one bad business decision after another but failed forward due to ridiculous bankruptcy laws. I'm really mad at the Democrats for their dereliction of duty that brought this upon us, I mean you couldn't at least clear the Venezuelan gangsters out of Manhattan. No Democrats could stand up for what the American people needed out of fear of being thrown out of their party. Trump wants to be a dictator forever and part of the plan is to tear down and weaken the country to help facilitate it. We would all agree that we need steel and aluminum for our manufacturing and we don't produce enough of it here, a plan to raise the price of it with the idea that maybe 5-10 years from now we can bring steel and aluminum production back is ridiculously bad for industry. Donald Trump's bad decisions will not fail America forward because there's nobody to steal money from to make them work..

[@CineGisticMedia]

Lol. Clueless. Why are we still paying tariffs on goods to Germany and Japan since WW2? They work. This price cost fear you keep hearing so you repeat it... Economists walked that crap back after the first one had its desired effect WITHOUT cost increases as ppl ignorantly claim.

[@michaeltoma9329]

@@CineGisticMedia I can’t imagine being so economically ignorant as you are

[@meman3462]

Elon Musk says Americans must suffer the "hardship" of $2 trillion in cuts to public spending, while he still gets tax cuts, government contracts, and corporate welfare.

[@hermanjacobs4425]

It’s not so subtle that Elon Musk is being offered a lot of government contracts in return for his unparalleled support for Trump. The payment system mentioned is probably one of the many projects that will involve Elon in Trump's administration, collecting and recording tariff payments for the Treasury.

[@later_daze_4080]

Where are my cheaper groceries??

[@app1mxh]

Trump lied

[@kevinmcgregor808]

@later_daze_4080 Your cheap groceries are in Canada eggs are $2 US a dozen.

[@teebone2157]

so he attacks the main trading partners yet again . Whats wrong with this administration.

[@Bretware904]

I don't see how this helps the US when there's no possibility of replacing imports with American steel and aluminum at current levels, after the contraction it will cause, maybe. American goods need to be more competitive not less. This sounds crazy but Canada should put an export tariff on manufactured goods going to the United States, businesses can't move those factories back to the United States because there's no labor avaliable. Help push America towards the contraction it demands....

[@cornpop4730]

Yeah canada should try that lmfao good one

[@cornpop4730]

Canada has labor and the us doesnt? Listen to yourself dude

[@joeborg4042]

Canada will retaliate

[@Bretware904]

​@@cornpop4730 You likely trolled the exact same theory when people said Canada should implement retaliatory import tariffs on the US....

[@Bretware904]

​@@cornpop4730 Less devils lettuce and I bet you get all that child speak into one post. Anyway, you likely trolled the exact same theory when people said Canada should implement retaliatory import tariffs on the US....I hate to interfere with your comfortable delusions but unemployment is low and more demand will definitely drive inflation....

[@konnybenzfan9708]

Not buying US goods anymore. Stay with Canada and Mexico. ❤

[@sky-eo8tz]

His signature on a white blank paper with a marker that takes for ever to sign is part is MEGA SHOW

[@lotus956]

We’re also over pissing off Mexico and China. Our biggest suppliers. Smh.

[@SSGosalia]

She said a whole bunch of nothing

[@mountbara]

The fact that it's being used as a negotiation tactic is being completely overlooked by all economists.

[@kimhesketh2016]

No one is overlooking anything. No one cares what he wants.

[@mountbara]

@@kimhesketh2016 you mean, you don't care. Thanks for playing.

[@finbarrmcgrath1686]

You seriously think that companies won’t raise their prices anyway and blame tariffs even though it’s just a “negotiation tactic.” Happens all the time with gas prices. That’s the problem with Trump supporters. They think exactly what they are told to think.

[@mountbara]

@@finbarrmcgrath1686 You mistake me for a Trump supporter. I am not, I have hated the man since the late 80's when he personally destroyed the USFL. However, I am not biased against him and apparently have a clearer view of the world and what is going on than those who have biases. Enjoy the day and I hope you can look at things without slant at some point.

[@dannelson6980]

When you don't hold up your end of the bargain, negotiations are done. He negotiated the current agreements now he is breaking them.

[@lotus956]

Prices of cars will go up. Car companies have no choice but to make more stripped down models with less bells and whistles that’s more affordable.

[@AdrianaStone-f8s]

American cars wont be sold in Canada , Mexico, China, Europe. This will harm manufacturing!!

[@kevinmcgregor808]

The main reason that Aluminium is cheaper to produce in Canada is that electricity is cheaper there. Placing a tarriff on it only drives up the cost in the USA. DT doesnt intend to help citizens of the US with the higher costs. He plans to place these tarrifs into an investment account for Musk & the likes.

[@kekistanirefugee]

The External Revenue Service is coming! She is wearing her girlboss glasses.

[@meman3462]

Some experts suggest that these new tariffs could prompt a wider trade war and exacerbate inflation. Capitol Economics said the annual rate of inflation could increase from 2.9% to as high as 4% because of the newly announced tariffs. If that happens, US inflation would return to the levels seen in mid-2023.7 days ago

[@SantaDog81]

Welcome expensive beverages.

[@Joe-ij6of]

He doesn’t know the distinction between the treasury and treasuries because he doesn’t follow or watch financial news, or really know anything about finance.

[@ShitoriMwemena]

To cut it short, the moron knows nothing.😊

[@dianecameron137]

IT WILL COME BACK ON THEM AS ALL COUNTRIES CAN DO THE SAME

[@eurythermic3266]

I don't think you understand how GDP works and how much involvement on production and consumer the U.S has with the entire world. He plans to use Tariffs to the US as a leverage. He can do that not only cause the U.S is a HUGE consumer country but also a manufactor country but because the world is on the US standard. Meaning most assets or minerals etc etc are paid through US Currency. With that let's say Trump Tariffs a lot of things sure countries can try and do it back but even if they did indirectly it will hurt their economy as about 80% of the world relies on the US economy one way or another. As we saw before it was delayed a month Trump Tariff against Mexico/Canada almost instantly without even it being implemented their dollar dropped substantially for something only being announced. Moral of the story is countries won't do it and if they try it'll hurt them so bad they'd have to negotiate (something we already saw between Canada and Mexico) because the price of other countries will be far greater than Americans. However expect more than likely the first year of the Trump presidency to things being a little more costly (not by a ton) because things take time to kick in. But I believe his plan with all this is to Tariff countries and increase our GDP while lowering our Debt while simultaneously removing a lot of "Tax Based" systems. Such as income tax, Tips, consumer tax. His vision is there it's just does he implement them correctly. Only time will tell Edit: This is why his slogan is "America First" another way of saying do business in the US and help make the US economy stronger will only make the world stronger. That's why he has also stated we won't Tariff you if you do business in the U.S. So other countries will more than likely do this and help the economy, as well as import new jobs to the US

[@radioactivelight]

But we are the greatest economy in the world, if we act strong, we can get what they want if they want to do business here! I’m tired of weak ineffective politicians leading our country into the gutter ! Finally, we have a great president. Who is making America great again. Sit back, shut up and enjoy the show, you are just an ineffective whiny Karen ! Do you wanna do things differently? Then you become president ! Until then, eat your words !

[@radioactivelight]

All CAPS is especially whiny, Karen

[@alekniko5350]

Sure there silly, but other countries don't matter.

[@jackn8458]

@@radioactivelightAll caps is trump style. Whiny sounds right. The op is right though.

[@Iliinois18]

Who is this guy to criticize...

[@SmilingCoyote82]

Well. First off that's a woman. Second off, she's an educated economist that actually understands how an economy works. I love how yall try hiding your ignorance behind your b1gotry.

[@tommyreimrock8667]

@@SmilingCoyote82 that is a man. that thing is not a woman.

[@fibonacimike4110]

@@Iliinois18 did she say anything you disagree with? If so, what and why?

[@CFHDime]

@@SmilingCoyote82she? 😂 idk bout that

[@guile-md6mg]

Is this how eggs, bacon, and gas will cost 1.87 and our utility bills cut in half?

[@nomadicrecovery1586]

Yes

[@radioactivelight]

We are only three weeks into the Trump presidency, and things are already getting better! Your boy Biden was a real asshole ! Trump has answered more reporters questions in the first two weeks than Joe Biden answered in four years ! The most open transparent presidency in American history and all you can do is complain

[@trem5174]

No. The prices will go up. Trump wants to position his companies and rich friends. Americans are losing their jobs. That's the priority.

[@K-wc1jp]

@@trem5174 tds

[@app1mxh]

Trump lied

[@Admin-iv3hk]

Putin, Xi, Kim, and that guy in Iran must be laughing.

[@Siamect]

He is not a business man for sure 😆

[@radioactivelight]

How many billions do you have in the bank account?

[@jackn8458]

⁠@@radioactivelightI have as many “billions in the bank account” as trump. 😂

[@Iamwomanhearmetoar7618]

​@@radioactivelight, how many billions do you have ?

[@radioactivelight]

@@Iamwomanhearmetoar7618 I don’t judge my wealth by my possessions I judge my wealth by my experiences, I am experience rich

[@BrianM-44041]

Japan wont have to pay a tariff because they will do business here. See how that works?

[@thepegger8422]

I would like to see Canada retaliate by cutting off all of our Potash exports to the USA. Yes, come spring when USA farmers need to plant and fertilize their fields, they can buy Potash from Russia and Belarus. Or not and see what grows.

[@NoWarFools]

No country that Tariffs are imposed to a paying the tariffs directly. Tariffs are a consumption tax on the importing country. US companies/ consumer are paying the tax. Which is a GOOD thing

[@aguyinhisden]

That is the dumbest thing I've ever heard. It is a good thing that consumers pay 25 percent more in taxes?

[@merikijiya13]

This is a terrible implementation of tariff taxes. Tariff taxes work well if the original country imposing the tariff tax already makes products in-house. Like a tariff tax on electric vehicles would be good because we already make some here in America. But we don’t make enough steel and aluminum here to impose such a tax at an advantage. Do people not remember the Great Depression and what happen right before it?

[@AdrianaStone-f8s]

I really don't care about you- I just want your vote- Trump You won't have to vote ever again- Trump Do you see what you voters for communism.

[@superjeffstanton]

Who is the first guy they talk to?

[@cornpop4730]

5 mins and you didnt talk about the potential impacts of the tariffs for 5 seconds. Useless

[@meman3462]

Tariffs Inflation will explode Richard Wolff Tariffs - Mr Trump a republican who is against taxes is proposing an enormous tax increase.RICHARD WOLFF

[@maydate86]

Winning goes before analysis as far as Trump is concerned. Win argument lose the conflict

[@richardthomas3415]

Of course! To steer the Nation’s payment system to Peter Thiel’s PayPal.

[@7171-Ws6]

If Biden did this y’all would be cheering?

[@silverngold100]

If Biden did this you all would be bitching

[@maxpayne7419]

China is playing 3D chess. Trump is playing whack-a-mole….

[@pontiac411]

The ones that suffer most from tariffs are the Amercan consumer we are already seeing this from the first round.

[@DarkWaterDuckCo]

You people in the comments need to understand what reciprocal means. We have never been in a “free” trade world. The US has been taking it on the chin. Time to fight back.

[@Tyrell_Corp2019]

Taking what on the chin? You are just parroting absolute nonsense.

[@katlegomoatshe1312]

Yes taking cheap consumer goods on the chin.. now time to end that...

[@Malachor8091]

I doubt trailer park Maga understands global economics.

[@aguyinhisden]

WTF are you talking about? We've had the strongest economy in the world. You Trump simps are something.

[@kimhesketh2016]

You are silly. All countries have tariffs until they sign a free-trade agreement. What is and has been happening is countries are trying to trade with the US less and less. The number of exports from the US dropped a lot under the last Trump's presidency as other countries found other countries to trade with. That number is going to plummet again as the world is aggressively looking for alternatives to trading with the US.

[@ChowOne]

Great more price increases.

[@mnm2007]

What happened to our Great Flag Waving Beautiful Capitalistic Competition , can't compete with the world anymore , lol, It's a sign of weakness Dummies !

[@K-wc1jp]

❤🤍💙MAGA

[@donaldsimpson4148]

will be a thing of the past...

[@stage51manager]

I got to admit. I *miss* President Joe Biden 🇺🇸

[@Raytracer96024]

GO GO GO TRUMP MAGA MAGA 2028

[@koyko4]

Laughing stock😂

[@radioactivelight]

I agree the Democrat party is a total laughingstock!

[@AdrianaStone-f8s]

Protest

[@jeffperteet2327]

Lmao cook it Frump I'm counting on you, you've always been a reliable fool

[@radioactivelight]

What hysterical world do you live in? Trump will go down in history as the greatest president America’s ever had and you will be listed as a fool

[@ElliottGregory-q8r]

3rd and final attempt

[@kobe052484]

Even if these countries do pay the tariffs we the people won't see a change prices will still go up and there will be another reason why

[@mikebarbee2217]

We AMERICANS pay the tariffs

[@K-wc1jp]

Did you care about prices during the last 4 years under Biden? BTW, my red state prices are starting to come down.

[@mikebarbee2217]

@@K-wc1jp yes. Prices around the world went up during Covid. Then, the United States recovered faster and inflation was lower here than almost any other country. When Biden left office, inflation was LESS THAN 1%HIGHER THAN WHEN TRUMP LEFT OFFICE.

[@kimhesketh2016]

Tariffs are an import tax. The importer pays the tax and that gets included in the price when they sell what they imported. The final consumer will eventually pay that tax.

[@RaulHeinemann]

Time for other countrys to pay USA .......

[@Falcon2609]

🤡

[@sandythompson2973]

You do realize that Americans will pay for all TARIFFS and not the other countries.

[@mannyoreoray]

@@sandythompson2973 Trump counts on his supporters to be as dumb as he is.

[@benwalters4808]

He doesn't, the red hats are the dumbest animal in the US​@@sandythompson2973

[@snk-ri5on]

YOU. FOOOOKING. TARD. The IMPORTING country PAYS the FCKING TARIFF ... for fcks sake. You TrumpTards are beyond help.

[@rosesmith6925]

America got exactly what it deserves. You got what you voted for or didn't.

[@K-wc1jp]

♥DJT. It's like Christmas every day!

[@DavidLange1492]

She should rent her forehead out as a billboard.

[@CFHDime]

wtf is that thing?