UPDATED 10:41 AM PT — Thurs. March 1, 2018
President Trump recently announced his administration will impose a new set of tariffs on steel and aluminum imports as soon as next week.
During a roundtable meeting on trade Thursday, the president said he plans to impose a 25-percent tariff on steel imports and a 10-percent tariff on aluminum.
15 representatives from the steel and aluminum industries were at the meeting.
In a tweet Thursday morning, the president blamed decades of bad trade policy for decimating the industries.
He said U.S. companies and workers must no longer be taken advantage of, and called for “free, fair, and smart trade.”
Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!
— Donald J. Trump (@realDonaldTrump) March 1, 2018
The stock market responded positively after the president’s tweet about the need for fairer trade.
Stocks jumped by two-to-seven percent after the post hit Twitter feeds.