Steel tariffs won’t work this time, either

Published



President Donald Trump’s administration recently raised tariffs on steel and aluminum imports to 50%, less than three months after imposing a 25% tariff on them. But like the overall Trump policy, the steel and aluminum tariffs won’t help the United States economically.

The June 3 move was a not-too-subtle rebuke to a federal court striking down Trump’s broader tariff regime, a May 29 decision by a three-judge panel at the U.S. Court of International Trade in New York. The federal panel said Trump overstepped his authority by implementing a tariff regime on dozens of countries in a bid to enliven domestic manufacturing and to slash budget deficits by generating revenue from import levies. The administration has also used the tariffs as bargaining chips for trade deals more favorable to the U.S., as well as in geopolitical negotiations.

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