American businesses, farmers and ranchers are worried and anxious about President Trump’s plan to impose punitive tariffs on imports of steel and aluminum. President Trump was expected to announce the tariffs on Thursday. He even invited more than a dozen American steel and aluminum company executives to the White House to use as props for the announcement. The planned tariffs are based on a Commerce Department report that said steel and aluminum imports posed a national security threat. Unlike other trade laws, it allows the president arbitrarily to impose tariffs and/or quotas without soliciting public comment or requesting an analysis by the independent International Trade Commission.

Source: Forbes March 01, 2018 20:10 UTC