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President Trump Approves Tariffs On Imported Steel and Aluminum

The tariffs will be 25-percent on steel and 10-percent on aluminum.

WASHINGTON -- President Trump says broad tariffs on imported steel and aluminum will help level the playing field for American industries. 

"I'm defending America's national security by place tariffs on foreign imports of steel and aluminum," Trump said in a White House announcement. "We will have a 25-percent tariff on foreign steel and 10-percent on foreign aluminum."

Presidents can take such actions if they determine that national economic security is jeopardized.  In a White House event today, Trump argued that other countries have taken advantage of the U.S. for too long. 

Several steel and aluminum industry workers joined Trump for the announcement.  Trump singled out Japan and China as utilizing unfair trade practices. 

Trump said exemptions have been carved out for Canada and Mexico while he tries to renegotiate NAFTA.  He again threatened to terminate the longstanding trade deal if he doesn't get a better one.  Presidents can impose import tariffs if they determine that national economic security is jeopardized. 

Trump argued that his action will help level the playing field for American industries.  He also noted that the move fulfills a campaign promise.  Several steel and aluminum industry workers joined Trump for the announcement.  

(PHOTO: Anadolu Agency/Getty Images)

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