Trump says no exemptions with metal tariffs to start in March
The comments came after the US president ordered a 25% import tax on all steel and aluminium entering the US, ending previous exemptions for allies including Canada and the EU and marking a major expansion of trade barriers. Trump said he was "simplifying" the rules and the measures would boost domestic production.
Trump's tariffs on steel and aluminum could raise these prices
In the aftermath of steel and aluminum tariffs during Trump's first term, major appliances showed price increases of between 5% and 10% between June 2018 and April 2019, Miller added, citing a monthly government data release. Those price hikes far outpaced an overall inflation rate of around 2%.
Which nation ultimately bears the cost of a tariff depends on what that country makes and its pull in the global market.
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