Speaking from the White House Thursday afternoon, President Trump confirmed he will sign new tariffs on imports of steel and aluminum into the United States. Steel will be taxed at 25 percent and aluminum at 10 percent.
"It'll be for a long period of time," Trump said during a listening session with steel and aluminum company CEOs. "We'll be signing it next week. And you'll have protection for a long time in a while. You'll have to regrow your industries, that's all I'm asking."
Trump has long lamented China's "dumping" of cheap steel into the United States, which he argues has destroyed America's industry.
“It destroys our companies and our jobs. People have no idea how badly our country has been mistreated. We’re bringing it all back,” Trump said.
"We are not protectionists, we want a level playing field," U.S. Steel Corporation's Dave Burritt said during the meeting.
"Pretty much all of you will be immediately expanding if we give you that level playing fild. What's been allowed to go on for decades is disgraceful," Trump responded.
Pres said he doesn't blame China for dumping steel and aluminum in the US. He says previous Administrations let it happen. But tells US execs: "you'll have protection for the first time in a long time." pic.twitter.com/0bdNDX8Duc— Mark Knoller (@markknoller) March 1, 2018
Here is list of attendees, courtesy of the White House:
-John Brett, Arcelor Mittal
-Dave Burritt, U.S. Steel Corporation
-John Ferriola, Nucor
-Conrad Winkler, Evraz
-Lee McCarter, JW Aluminum
-Mike Bless, Century Aluminum
-Roger Newport, AK Steel Chester Roush, JW Aluminum
-Tim Timken, Timken Steel
-John Bass, Nucor
-Jesse Gary, Century Aluminum
-John Lapides, United Aluminum
-Beth Ludwig, AK Steel
-Marsha Miller, Arcelor Mital
-Ryan Stenger, Timken Steel
-Todd Young, U.S. Steel Corporation