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Trade Service
US President Trump signed an announcement on the 8th to impose high tariffs
on imported steel and aluminum products.
This latest trade protection measure of the United States has been widely opposed
in the United States and the international community.
Trump announced at the White House on the same day that the United States will impose a 25% tariff on imported steel and a 10% tariff
on imported aluminum products.
The tariff measures will take effect
in 15 days.
In addition, given that the United States, Canada and Mexico are currently renegotiating the North American Free Trade Agreement, Trump said that Canada and Mexico will be temporarily exempted from relevant tariffs
.
At the same time, other economies also have the opportunity to be exempted from relevant tariffs, and the US Trade Representative is responsible for specific negotiations
.
The two high tariffs were imposed on the basis of the "Section 232 investigation"
conducted by the U.
S.
Department of Commerce.
Under Section 232 of the U.
S.
Trade Expansion Act of 1962, the U.
S.
Department of Commerce has the authority to initiate an investigation
into whether imported products harm U.
S.
national security.
The U.
S.
Department of Commerce launched a "Section 232 investigation" into imported steel and aluminum products in April 2017, and submitted an investigation report
to Trump in January this year.
