Trump's Tariffs on Canadian Aluminum Is A Major Mistake

SEATTLE (Scrap Monster): The Trump administration’s decision to impose 10% tariffs on aluminum imports from neighbouring Canada has received widespread criticism from various corners. The decision has been alleged as a major misstep, as it is likely to lead to increased prices of all goods made from the metal. Consequently, it will tighten the budget of Americans, who have been badly impacted by pandemic crisis.

The new tariffs have severely hurt the aluminum industry. The Aluminum Association warned that tariffs will make U.S. aluminum companies less competitive in regional market transactions. The aluminum importers may not want to add to their bill, as they are already impacted by around $2.2 billion due to existing tariffs, the Association said.

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The action could reignite trade war between the two countries, which is not at all in the interest of American families and businesses. They could be harmful to the country’s economy, especially during the pandemic period. In relation to the 10% tariff by the U.S. administration, Canada is most likely to impose tariffs on U.S. products made from aluminum, which in turn could affect American businesses that export these products.

The trade associations urged the administration to promote pro-growth strategies, including lowering of tariffs to boost cross-border trade.