President Donald Trump has announced that he would impose tariffs on imported steel and aluminum. Next week, we'll be imposing tariffs on steel imports and aluminum imports." While the exact amount of tariffs has not been confirmed, the President has indicated that he favors tariffs of 25% on steel imports and 10% on imported aluminum. The imposition of tariffs would, according to the President, level the playing field between the United States and countries like China. The Smoot-Hawley Tariff was a broad swipe at imports but most tariffs, like the current proposal, are more measured.

Source: Forbes March 01, 2018 21:05 UTC