27 Trump says he will impose tariffs on steel and aluminum imports 'next week'

Trump to impose steel and aluminum tariffsPresident Trump said Thursday he will soon place tariffs on steel and aluminum imports —  a move that could trigger retaliation from trade partners who may target American products.

"We'll be signing it next week," Trump said after discussing tariffs with a group of steel and aluminum executives, calling it the first "protection" they have had "in a while."

While arguing that the United States has been treated "horribly treated by other countries," Trump also told the executives that "you'll have to regrow your industries, that's all I'm asking."

Trump told reporters he would impose 25% percent tariffs on steel imports and 10% on aluminum imports.

Skeptics, including some Republican lawmakers, quickly objected by saying that trading partners and rivals would slap counter-tariffs on U.S. products and increase costs worldwide.

"The President is proposing a massive tax increase on American families," said Sen. Ben Sasse, R-Neb., adding that "you'd expect a policy this bad from a leftist administration, not a supposedly Republican one.

TVNL Comment: Uh...Donald....do you understand that the US will now be hit by counter-tariffs?  American consumers will pay the price.  Oh well, this is what you get when you put a dummy in the Oval Office.