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Trump will stack metal tariffs on top of looming 25% levies: White House

The article from MSN discusses the Trump administration's plan to impose additional metal tariffs on top of the existing 25% levies on steel and aluminum imports. This decision comes as part of a broader strategy to protect domestic industries and address trade imbalances. The new tariffs are expected to target countries that have been circumventing the earlier tariffs through third countries or by slightly altering the products to avoid classification as steel or aluminum. The move has raised concerns about potential retaliation from trading partners, increased costs for U.S. manufacturers, and possible inflationary pressures. Critics argue that these tariffs could disrupt global trade, harm American businesses that rely on imported metals, and potentially lead to job losses in industries that use these materials extensively. However, supporters of the policy believe it will strengthen U.S. manufacturing by making foreign metal less competitive, thereby encouraging domestic production.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/politics/government/trump-will-stack-metal-tariffs-on-top-of-looming-25-levies-white-house/ar-AA1yUgSA ]