United States President Donald Trump signed a bill on Thursday introducing import tariffs of 25% on steel and 10% on aluminum, to come into effect in 15 days. Canada and Mexico are to be exempt if a deal is reached with those American neighbors on the NAFTA agreement. The list of exempt countries is not final and can be expanded through negotiations, while some countries might see higher tariffs in order to compensate for the ones that are excluded.
President Trump cited "national security" concerns as the rationale behind the tariffs, claiming that domestic heavy industry needs to be strong in order to support the country's defense industry. "If you don't have steel, you don't have a country," Trump stated.
