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Trump signs executive orders slapping 25% tariffs on steel and aluminium imports
US President Donald Trump on Monday made good on a promise to slap 25 per cent tariffs on steel and aluminium imports, stepping up a long-promised trade war despite warnings from China and Europe.
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“Today I’m simplifying our tariffs on steel and aluminium,” Trump said in the Oval Office as he signed executive orders. “It’s 25 per cent without exceptions or exemptions.”
Trump also signalled that he would look at imposing additional tariffs on automobiles, pharmaceuticals and computer chips.
Canada and Mexico – which Trump has already threatened with tariffs – are the biggest steel importers to the United States, according to US trade data. Brazil and South Korea are also major steel providers.
The US leader also confirmed that he was considering an exemption for Australia from the steel tariffs.
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“We have a [trade] surplus to Australia, one of the few. And the reason is they buy a lot of airplanes. They are rather far away and need lots of airplanes,” he said.