President Donald Trump's strong-armed trade policies have set off an intense scramble among industry groups, companies and foreign countries seeking exemptions from tariffs of 25 percent on steel imports and 10 percent on imported aluminum. The push comes ahead of an upcoming round of new penalties expected to be slapped on China by week's end.
The Can Manufacturers Institute, which represents 22,000 workers at manufacturers across the nation, estimates the steel and aluminum tariffs would harm their industry and consumers alike. The institute says there are 119 billion cans made in the U.S., meaning a 1 cent tariff would lead to a $1.1 billion tax on consumers and businesses.
Continue here to read the full article || March 21, 2018 |||