U.S. MAY IMPOSE HUGE TARIFFS ON GLOBAL STEEL IMPORTS

Feb 16, 2018

By Michael Kramer

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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.

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