Nucor Corp., the largest steel producer in the United States, is supporting the tariffs imposed by President Donald J. Trump on China, Canada, and Mexico. “Nucor applauds the first steps taken by President Trump in his America First Trade Agenda,” said Leon J. Topalian, Nucor’s chairman, president, and CEO. We look forward to working with President Trump to enforce our trade laws and strengthen American manufacturing!”
Trump’s order, signed on Saturday, introduces tariffs through the International Emergency Economic Powers Act, effective Tuesday. The order applies a 25 percent tariff on imports from Canada and Mexico and a 10 percent tariff on imports from China. However, a one-month delay has been agreed at the eleventh hour for the Mexico tariffs, as the Hispanic country negotiates with the Trump administration. Canadian energy imports will face a reduced 10 percent tariff.
President Trump is introducing the tariffs in response to threats stemming from illegal immigration and the trafficking of drugs, such as fentanyl, into the U.S. Trump wants America’s neighbors to take meaningful and decisive action against these cross-border threats on their end.
Topalian, appearing on CNBC, endorsed the upcoming tariffs, highlighting their potential to address a range of economic issues: “I think they’re going to be far-reaching, and I think they’re going to be very broad to, again, stop the illegal dumping, the manipulation, currency manipulation and subsidization of steels coming into the shores of the U.S.,” he said. […]
— Read More: thenationalpulse.com
