The GOP Doesn't Like Trump's Plan To Put Tariffs On Steel, Aluminum

He wants a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.
Posted at 7:41 PM, Mar 01, 2018

President Donald Trump announced Thursday that the U.S. will place tariffs on steel and aluminum imports next week, and the GOP isn't happy about it. 

Neither is Canada. The Canadian minister of foreign affairs said, "Any restrictions would harm workers, the industry and manufacturers on both sides of the border." 

Trump proposed a 25 percent tariff on steel and a 10 percent tariff on aluminum, but other Republicans say that will lead to a trade war. 

Sen. Pat Toomey said Thursday, "New, huge tariffs on all kinds of imported steel is a big mistake that will increase costs on American consumers, cost our country jobs, and invite retaliation from other countries."

A spokesman for Speaker of the House Paul Ryan said Ryan is "hoping the president will consider the unintended consequences of this idea and look at other approaches before moving forward."

Imports make up about one-third of steel used in American businesses. The Dow dropped over 400 points after Trump's announcement.