Economics
Trump Must Weigh Retaliation Risk in Deciding Tariffs on Steel
- Ross says U.S. won’t be surprised if other nations retaliate
- China says it can take necessary steps to protect its rights
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The U.S. sounds confident that proposed tariffs on steel and aluminum won’t break global trade rules, despite warnings from other countries that such a move could trigger a flurry of retaliation. It’s up to the president to decide if that’s a risk he’s willing to take.
The Commerce Department on Friday laid out a range of options for President Donald Trump to consider, including a tariff of at least 24 percent on steel imports from all countries. In announcing the long-awaited proposals, Commerce Secretary Wilbur Ross acknowledged other nations may respond in kind.