FT reported on Trump's plans to review trade duties on steel and aluminum
US President Donald Trump plans to reduce trade duties on steel and aluminum products in an attempt to deal with the "affordability crisis" that has also led to a drop in his approval rating. The Financial Times writes about this on February 13.
It clarifies that the Trump administration is currently reviewing the list of goods subject to duties and plans to exclude some items from it, suspend the expansion of the list and instead conduct more targeted inspections of specific goods for their compliance with national security requirements.
The Commerce Department and the U.S. Trade Representative believed that the duties were harming consumers by raising prices for goods such as baking pans, as well as cans for food and beverages, the material says.
According to economists, the decision to ease duties on steel and aluminum was made against the background of the fact that Americans pay for these fees, which refutes the president's statements that the burden will fall on foreign companies.
According to a survey by the Pew Research Center, more than 70% of American adults rate the economic situation in the country as "satisfactory" or "bad." At the same time, 52% of respondents believe that Trump's economic policy has worsened the situation.
On February 7, Trump signed a decree on duties on countries trading with Iran. It was noted that Iran's policy allegedly continues to pose an "unusual and extraordinary threat" to the United States.
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