Just how much steel and aluminum are we talking about?
After railroading past a number of his advisors, Trump announced this week that he will be rolling out tariffs on imports of steel (at 25%) and aluminum (at 10%), citing national security concerns. In particular, administration officials have lambasted China as the source of unfair trading practices.
The reality: The U.S. imported $900.6 million in steel from China last year — a fraction of what the U.S. imported from several other trade partners. The stated intent is to hit back on China, but all these other trading partnerships are now facing strained ties, and could hit back with their own tariffs now as well.