Donald Trump’s tariff frenzy continues. The president of the United States closed the work week in which his commercial policy has been in the eaves for a judicial judgment redoubling his bet. During his visit to a plant of the company Us Steel in Pennsylvania, Trump announced that he will double up to 50% of the import tariffs. The new taxes will be effective on Wednesday, June 4. The president made that announcement while he is about to authorize the sale of the centennial company to the Japanese group Nippon Steel. The president presents it as an “alliance”, but the details of the operation have not transcended. Despite the transaction, Trump told the workers: “Your company will continue to be American.” Republican charges have indicated that Trump will establish a gold action for the United States to maintain control, but it is not known what powers will grant. Trump said in campaign that he would not allow the sale of the company to Nippon Steel. “Today we are here to enter into a transcendental agreement that will ensure that this historic American company remains American,” Trump told the workers. Trump said those 50% taxes on imported steel “will further ensure the steel industry in the United States.” “I think this group of people who just made these investments is very happy right now, because that means that no one can steal their industry,” Trump said. “It is 25%, they can overcome that barrier, but at 50% they will no longer be able to do it,” he said, in a new protectionist order received between workers’ ovations. Trump imposed 25% tariffs on the importation of steel and aluminum that entered into force in March, so that the announced measure involves duplicating them. The price of steel products has increased approximately 16% since the presidency assumed, according to the Government Producer Price Index. A rise in tariffs such as that announced by Trump will raise prices more, predictably. In the case of steel, the construction sector can be especially harmed. Tariffs benefit less competitive sectors, but harm those who consume their products. Together, they take productivity and growth. The sentence that declared the badly called “reciprocal tariffs ″ and taxes to China, Mexico and Canada under the pretext of the fentanyl and immigration did not enter to analyze tax Masses employees turned to Trump in their speech at the Mon Valley Works -Steel Sceography, together with posters in which “the Golden Age” was read, in reference to the economic boom that, according to him, will cause their policies, which for now have stopped the economy, there were also large banners with the slogans “American steel” and “American jobs.” United Steelworkers has systematically rejected the sale of the emblematic American company to the Japanese group. Trump to authorize the operation. In another statement this week, the union indicated that Trump’s announcement left more questions and distrust that the group remained American property. We have not seen anything in the news of the last days to suggest that Nippon has changed positions, ”he said. The president intends to buy his support with the tariff Investing as part of the agreement would be used to increase the production of steel in the plant itself in which Trump said that 7,000 million dollars would be used to modernize the approaches, expand the extraction of mineral and build new facilities in Indiana, Minnesota, Alabama and Arkans. McCormick pointed out on Tuesday that the formula for sale to the company to Nippon Steel goes through a gold action. From several council members, which will allow the United States to ensure that production levels and things are not reduced, “he explained.” This structure allows us to obtain the necessary investment to acquire the latest technology of Nippon, world leader in this sector, while protecting the national security interests of the United States, “added the senator.” A strong steel industry is not just a matter of dignity, prosperity or pride. It is, above all, a issue of national security, ”Trump said Friday at the US Steeel plant. National security was precisely the argument adduced by his predecessor, Joe Biden, to veto the sale of the US company to Nippon Steel. Trump repeated in campaign again and again that he would vent the operation that – with some conditions – is about to authorize. Trump (T) Commercial War (T) Tariffs (T) Economics (T) Protectionism
