The president argued that cheap Chinese exports were putting US steel mills out of business MICHAEL REYNOLDS/POOL/GETTY IMAGESPresident Trump has demanded that China make immediate moves to slash its trade surplus with America by $100 billion a year as his administration adopts an aggressive stance on trade. Mr Trump shrugged off protests from Republican colleagues and international allies last night and signed a proclamation to impose steep tariffs on imported steel and aluminium. The protectionist policies were needed to stop America’s trading partners from “stealing our wealth”, he said. The tariffs would start at 25 per cent on steel and 10 per cent on aluminium. “We’re going to protect the American worker,” Mr Trump promised.

Source: The Times March 09, 2018 00:00 UTC