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]
Tariff of Abominations Industries in the northern United States were being driven out of business by low-priced imported goods; the major goal of the tariff was to protect these industries by taxing those goods. The South, however, was harmed directly by having to pay higher prices on goods the region did not produce, and indirectly because reducing the exportation of British goods to the U.S. made it difficult for the British to pay for the cotton they imported from the South.[1] The reaction in the South, particularly in South Carolina, led to the Nullification Crisis.[2] The tariff marked the high point of U.S. tariffs in terms of average percent of value taxed,[3] though not resulting revenue as percent of GDP.[4]