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Trump Imposes Sweeping Steel and Aluminum Tariffs, Sparking Trade War Risks

In March 2018, former President Donald Trump announced sweeping tariffs on steel and aluminum imports, setting a 25% tariff on steel and 10% on aluminum, citing national security concerns under Section 222 of the Trade Expansion Act. This decision was met with significant backlash and concerns over potential trade wars, as it affected key allies like the European Union, Canada, and Mexico, who were initially exempt but later subjected to the tariffs. Critics argued that these tariffs would increase costs for American manufacturers, potentially leading to job losses and higher prices for consumers. The move was seen as a protectionist measure aimed at reviving U.S. steel and aluminum industries but risked retaliation from trading partners, with some countries like China already responding with their own tariffs on U.S. goods. The Trump administration's approach was part of a broader strategy to renegotiate trade deals and reduce the U.S. trade deficit, but it introduced uncertainty and tension in global trade relations.

Read the Full AgWeb Article at:
[ https://www.agweb.com/news/policy/politics/trump-imposes-sweeping-steel-and-aluminum-tariffs-sparking-trade-war-risks ]