In early March, US president Donald Trump announced plans to impose import tariffs of 25% on steel and 10% on aluminum. The measures, which are believed to be largely targeted at China, caused uproar.
Trump was unapologetic, tweeting: “The United States has an $800 billion yearly trade deficit because of our very stupid trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!”
Incidentally, China is not even one of the top 10 exporters of steel to the US. With 16% of American steel imports, Canada would bear the most brunt of the new measures. Some suggest it could be a negotiation tactic. Trump seemed agreeable to granting tariff exemptions to Canada and Mexico if they, at the time, renegotiated the North American Free Trade Agreement (NAFTA) with terms that the US president deemed fair.
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