Donald Trump says he will announce prices on steel and aluminum

President Donald Trump said he would announce an import tax of 25% on all steel and aluminum entering the United States, a decision that will have the greatest impact in Canada.

Trump also said that there would be an announcement later in the week on reciprocal prices on all countries that impose taxes from the United States, but he did not specify which nations would be targeted, or if There would be exemptions.

“If they charge us, we charge them,” said Trump.

The movement marks another escalation In Trump’s trade policy, who already has triggered reprisals from China.

Canada and Mexico are two of the largest steel trading partners in the United States, and Canada is the largest aluminum metal supplier in the United States.

In the United States, steel production is strongly politicized. Some maintain that the country must be able to produce enough high quality steel to provide its soldiers in a national emergency without counting on imports.

During his first mandate, Trump put prices of 25% on steel imports and 10% on aluminum imports from Canada, Mexico and the European Union.

But the United States concluded an agreement a year later With Canada and Mexico to end these prices, although taxes on importing the EU remained in place until 2021.

Speaking aboard the Air Force One, Trump said on Monday that he would announce prices on “everyone” for steel and aluminum.

“Any steel entering the United States will have a price of 25%,” he said.

In response, Doug Ford, the Prime Minister of the province of Ontario, accused Trump of “moving the goal posts and constant chaos, endangering our economy” in an online article. Canada steel production is concentrated in Ontario.

Canadian political advisor Catherine Loubier said she thought Trump’s threats were real, but said there could be a solution due to the two economies.

“Hundreds of thousands of jobs in the United States are linked to the contribution of Canada’s steel and aluminum in the US economy,” she said to the BBC Today program.

“I think there is a lot at stake and that no one wins with these prices, that’s for sure.”

Trump’s comments caused the fall in South Korean steel and cars. South Korea is a large steel exporter in the United States.

Meanwhile, Australian Prime Minister Anthony Albanese told Parliament that his government would “plead” in the United States for Australia to make an exemption at any price in steel and aluminum – something they have obtained during Trump’s first term.

Prices are a central element of Trump’s economic vision – he considers them as a means of developing the American economy, protecting jobs and increasing tax revenue.

The result has been a wave of announcements since its inauguration.

• Earlier this month, Trump threatened to impose 25% import rights on Canadian and Mexican products
• He Later, delayed this plan for 30 days – Until early March – after talking to the leaders of the two countries.
• He also brought new American samples of 10% to all Chinese products in the United States.
• Beijing retaliated with its own set of prices which took effect on Monday.
• These included controls on imports of American coal, petroleum, gas, agricultural machinery, large motor cars and controls on exports of 25 rare metals necessary for electrical and military equipment
• Trump also said that the United States would introduce reciprocal prices “Tuesday or Wednesday” on all countries that tax American imports, which will correspond to the rate rates collected by each country. “It will be great for everyone, including other countries,” he said.

Chinese government spokesperson Guo Jiakun said: “There are no winners in a trade war or a pricing battle. What is injured are the interests of the inhabitants of the two countries.”

He urged the United States to “correct his erroneous approach and stop politicizing and armaments economic and commercial problems”.

Victor Gao, a Diplomat and Chinese economist, told the BBC that China’s decision to put controls on rare metal exports “in direct retaliation for the American taxation of policies refusing Chinese access to semi- drivers and many other AI developments “.

“And it’s really a tit-toy because China wants to have free trade for all these things.”

However, he added that China would not be too affected due to the demand of American buyers of cheap Chinese products.

“(Chinese products) are very affordable and competitive even with a price of 10%,” he said.

During the trip to New Orleans, Trump also signed a proclamation designating on February 9 “Gulf of America” ​​to celebrate his renowned order of the Gulf of Mexico, while his plane crossed the body of water.

Mexico maintains that the United States cannot legally change the name of the Gulf Because the rules of the United Nations dictate that the sovereign territory of an individual country extended only 12 marine kilometers on the coast.

We also asked Trump if he had spoken to Russian President Vladimir Putin and replied: “I don’t want to talk about it, and if we are talking about it, I don’t want to tell you about the conversations too early, but I do it believe that We are progressing.

“I imagine that I would meet Putin at the right time … at the appropriate moment,” he said.

Trump also repeated his improbable suggestions that the United States could take over Canada and the Gaza Strip, saying that Canada would get out of it better as “51st state” and that it was “determined to buy and to have Gaza “.