Donald Trump's loss relieves fears of future U.S. steel tariffs under Biden - News Summed Up

Donald Trump's loss relieves fears of future U.S. steel tariffs under Biden


In 2018, the Trump government implemented tariffs — 25 per cent on imports of steel and 10 per cent on aluminum — saying Canadian steel was a security risk. The Trump administration withdrew tariffs on Canadian steel and aluminum in 2019, but threatened to reimpose aluminum tariffs after the Nov. 3 election. "That was all based on a notion they could restore the lost steel industry in the United States. The tarrifs left workers fearing job losses and higher prices on steel products. It also prompted Ottawa to give $2 billion in assistance to the steel and aluminum industry.


Source: CBC News November 08, 2020 22:30 UTC



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