Sadie Keljikian, Express Trade Capital
The president has released yet another tariff-imposing proclamation. The latest in a series of recently implemented “trade remedy tariffs”, the new proclamation will impose a 50% tariff on steel mill products from Turkey and will take effect immediately. The new tariffs have been incorporated into Section 232 of the Trade Expansion Act of 1962 and take aim at countries said to be engaged in “unfair” trade practices.
The president has also hinted that he may double tariffs on Turkish aluminum from the current 10% to 20%, but no formal announcement has been made as of now.
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