US President Donald Trump on Feb 10 signed two proclamations raising duties on steel and aluminum to 25% and ending all exclusions on tariffs of both the metal imposed during his first term.
He also said he would announce plans to impose reciprocal tariffs on other countries over the next two days.
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He also said he would announce plans to impose reciprocal tariffs on other countries over the next two days.
Read more at https://tinyurl.com/3d96s6hw
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00It's a big deal. It's a big deal. This is the beginning of making America rich again.
00:07U.S. President Donald Trump on Monday signed two proclamations raising duties on steel and aluminum to 25 percent
00:14and ending all exclusions on tariffs of both metals imposed during his first term.
00:19Today I'm simplifying our tariffs on steel and aluminum so that everyone can understand exactly what it means.
00:26It's 25 percent without exceptions or exemptions.
00:30And that's all countries, no matter where it comes from, all countries.
00:34If made in the United States, however, United States of America, there is no tariff, zero.
00:41So if it's made in the United States, there is no tariff.
00:45All you have to do is make it in the United States. We don't need it from another country.
00:49Trump said he will announce plans to impose reciprocal tariffs on other countries over the next two days.
00:55We don't want it to hurt other countries, but they've been taking advantage of us for years and years and years.
01:02And they've charged us tariffs. Most of them have charged us, almost every one, I would say, almost without exception.
01:08They've charged us. We haven't charged them. And it's time to be reciprocal.
01:13So very, very. You'll be hearing that word a lot. Reciprocal. If they charge us, we charge them.
01:20If they're at 25, we're at 25. If they're at 10, we're at 10. And if they're much higher than 25,
01:25we will be looking at chips and we will be looking at cars and we're going to be looking at pharmaceuticals.
01:33And there'll be a couple of other things also, in addition.
01:36The White House said the exclusion process had gotten out of control under the Joe Biden administration,
01:42resulting in approval of many product exclusions.
01:45Australian Prime Minister Anthony Albanese said he had a phone call with Trump,
01:50who he said had agreed to consider exempting Australia from the tariffs.
01:54I said to the President Trump that this was an issue of some media coverage in Australia
02:02and that we therefore agreed on the words that would be used, that it was under consideration.
02:11That's what I'll stick to, but we'll continue to engage quite clearly constructively.
02:15But can I say this? It was a very constructive and warm discussion.
02:19The Australian government had said steel and aluminum exports from Australia
02:23had created good-paying jobs in America and are key to shared defence interests.
02:29In Brazil, workers at the CSN steel mill said they are afraid to lose their jobs.
02:35We don't know. This is something that can happen at any moment.
02:43But if it gets worse for the CSN, it'll get worse for us too.
02:46This is going to be bad for everyone here.
02:49Because the most affected are always the workers.
02:53Then all the burden falls on our people.
02:57We'll have to see what happens in the end, what happens for us as workers.