The Trump administration will not lift new tariffs on steel and aluminum from China as part of a deal aimed at reducing the huge trade deficit with that country and addressing U.S. concerns about intellectual property theft, Treasury Secretary Steven Mnuchin told lawmakers on Tuesday.
"As it relates to China, the steel and aluminum tariffs will remain in force. Those were not part of our discussions," Mnuchin said before the Senate Appropriations Financial Services Subcommittee.
The news should please steel producers and workers who support the increased protection.
Earlier this year, the president imposed tariffs of 25 percent on steel imports and 10 percent on aluminum imports. Read more...