EDITORIAL– High import tariffs on steel and aluminum could increase production cost for automakers, suppliers in US
The impact will be more severe if the exemption for Canada and Mexico were to be lifted
Earlier this month, US President Donald Trump signed a proclamation to impose a 25% tariff on import of steel and 10% on import of aluminum into the United States. President Trump, however, temporarily exempted Canada and Mexico from this new tariff regime amid ongoing renegotiations with the two neighboring countries on the North America Free Trade Agreement (NAFTA).
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