Feb 16, 2018
By Michael Kramer
The U.S. has fired a warning shot in what could become a global trade war – as the country threatens to hammer worldwide steel imports with tariffs.
A series of recommendations have been delivered to President Donald Trump – and he now must decide on a course of action by April.
Trump’s decision holds major consequences for Canada – a big steel exporter to America.
One option would see the U.S. imposing a 24 per cent tariff on steel imports from everywhere – including Canada – while another would see a 53 per cent tariff on a smaller list of countries – which would spare Canada.
U.S. Commerce Secretary Wilbur Ross announced the recommendations today and he says the president could choose a third option – to do nothing – or take a completely different direction.