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Trump Reportedly Plans to Reduce Tariffs on Steel & Aluminum Goods to Tackle Inflation
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US President Donald Trump is planning to reduce some tariffs on steel and aluminum goods in an attempt to address higher prices ahead of the midterm elections in November, the Financial Times quoted sources as saying. Last year, the US imposed tariffs as high as 50% on steel and aluminum imports, and expanded the tariff scope to include a range of goods made from those metals, including washing machines and ovens. It is reported that the US government is reviewing the list of products affected by the additional tariffs, and plans to exempt some goods and halt the expansion of the list, instead conducting more targeted national security investigations on specific products. AASTOCKS Financial News Website: www.aastocks.com |
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