Trump warns of big tariffs coming on steel, aluminum
U.S. President Donald Trump says big tariffs are coming.
He says he'll sign an executive order next week.
Trump says he intends to impose steel tariffs of 25 per cent, and aluminum tariffs of 10 per cent.
Major details of the plan are unclear such as whether this will apply to Canada. Canada is the No. 1 seller of both steel and aluminum to the U.S., with an integrated auto industry and military-industrial base.
The process is mired in confusion.
The White House had a vigorous behind-the-scenes back-and-forth over whether Trump should say anything today. The president was reportedly determined to announce tariffs, then his staff denied an announcement was coming today, and now he's made a statement to the press about it.