Trump signs 25 percent tariff on those products

US President Donald Trump signed presidential decrees at a ceremony held in the Oval Office imposing a 25 percent tariff on steel and aluminum imports.

In his statement, Trump said, "We are imposing a 25 percent tariff on all aluminum and steel products without exception," adding, "This is a big deal. It is the beginning of making America rich again."

Emphasizing that the US steel and aluminum industry is not where it deserves to be due to the failed trade policies of previous US administrations, Trump stated, "Our nation wants steel and aluminum to be produced in America, not on foreign soil."

Stating that it is time for major US industries to return to the country, Trump said, "Protecting our steel and aluminum industries is a necessity. Today, so that everyone can fully understand what it means, I am simplifying our tariffs on steel and aluminum by fixing them at 25 percent without any exceptions or exemptions."

TRUMP EMPHASIZED THE IMPORTANCE OF DOMESTIC PRODUCTION

Stating that tariffs will not be applied if production is carried out in the US, Trump emphasized that domestic production will also have a positive impact on prices. "Foreign companies will move to the US and produce their steel and aluminum here. Ultimately, it will be cheaper," said Trump, adding, "We will revitalize our industries, bring our jobs back, and make American industry great again."

News Source: İHA