Back to the complete issue
Sunday, 4 March 2018

Trump to impose 25% tariffs on steel imports, 10% on aluminum

US President Donald Trump will sign this week an order to impose 25% tariffs on steel imports from all countries and 10% tariffs on aluminum imports, the president announced at a meeting with steel industry figures on Thursday. The move came on the recommendation of the US Commerce Department last month, which also proposed an alternative 53% tariff on steel imports for 12 countries, including Egypt. In a series of tweets the following morning, Trump welcomed the prospect of a global trade war over the new policy, saying that reciprocal taxes are necessary “to protect our country.” Presidential aides have been pushing to exempt certain allies, while the EU and China are vowing retaliation to the measure, The Financial Times says. EU officials are expected to present tomorrow a “EUR 2.8 bn list of more than 100 US goods targeted for retaliation.” Trump responded by vowing to implement tariffs on European cars.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.