Trump: "If you do not want to pay tariffs, bring your factories to the US"
US President Donald Trump has signed a document imposing tariffs of 25% on imported steel and 10% on imported aluminum, but exempting Canada and Mexico from withdrawing from their earlier tariff commitments in all countries.
Describing the steel and aluminum dumping in the US as "an attack on our country", Trump said in a press conference that the best outcome for companies is to move to the US and insisted that domestic production is necessary for national security reasons.
"If you do not want to pay tariffs, bring your factories to the US," he said, noting that military relations would also be taken into account for other countries' exemptions from tariffs.
Details of the measure came from a briefing by government officials shortly before Trump's speech. Other countries may apply for exemptions, according to the government, but no exact details have been given as to when they will be granted.
Trump has cleared tariffs on countries that "treat us fairly in trade," a move aimed at putting pressure on Canada and Mexico to back down in separate NAFTA talks.
The US president stressed that he "has the feeling" that there will be an agreement with Canada and Mexico.
House Speaker Paul Ryan expresses fears of 'unforeseen consequences' of tariffs
The Speaker of the House of Representatives Paul Ryan issued a statement condemning the decision of President Donald Trump to impose tariffs on imported steel and aluminum.
"I disagree with this decision and fear the unforeseen consequences," Ryan said, welcoming Canada and Mexico's exemption from the measure.
He added that he would continue to urge the White House to limit tariff policies so that they focus on "only those countries and practices that violate commercial law".