when do the steel and aluminum tariffs go into effect
Trump tariffs Beginning on June 1, 2018, the Trump administration imposed a 25% tariff on imports of steel, and a 10% tariff on aluminum, on the European Union, Canada, and Mexico.[3] The tariffs angered U.S. allies, who planned retaliatory tariffs on U.S. goods, and heightened chances of a trade war.[4][5] China said that it will retaliate for the tariffs imposed on $50 billion of Chinese goods that come into effect on July 6.[6] India is also planning to hit back to recoup trade penalties of $241 million on $1.2 billion worth of Indian steel and aluminium.[7] Other countries, such as Australia, are concerned of the consequences of a trade war.[6]
Taxation in the United States The United States imposes tariffs or customs duties on the import of many types of goods from many jurisdictions. These tariffs or duties must be paid before the goods can be legally imported. Rates of duty vary from 0% to more than 20%, based on the particular goods and country of origin.