On Thursday, US President Donald Trump signed a proclamation that imposes taxes of 25% on steel imports and 10% on aluminum, although Mexico and Canada will be exempt “for now” from that rate, reported a senior official of the White House.
These rates will formally enter into force within 15 days, added the source, who pointed out that the US government is open to discuss “country by country” to negotiate exemptions.
On Thursday morning, Trump had promised that the taxes would be “very fair,” and that the plan provides for “flexibility” with those countries that have proven they are “true friends” of Washington.
In those statements, the president had stated that Mexico and Canada would be exempted from these taxes, although the benefit would only be permanent if the talks for the renegotiation of the North American Free Trade Agreement move towards an understanding. Mexicans, Canadians, and Americans completed their seventh round of talks this week to renegotiate the trade agreement without the parties having yet reported substantial progress.
Trump said that the US steel and aluminum industry
has been ruined by foreign trade practices. It has been a real assault on our country (…) There will be no taxes if the product is manufactured in the United States. Do not want to pay taxes? Bring your manufacturing plants to the United States!”