The Waiting Game
Crain’s Cleveland Business
By Scott Suttell
May 1, 2018
http://www.crainscleveland.com/article/20180501/blogs03/160046/architectural-digest-out-front-recommending-cleveland-spots-summer
Todd Leebow, president of Majestic Steel USA, a Cleveland-based distributor of domestic steel products, is quoted in this Reuters story about delays in some metal tariffs.
The news service notes that President Donald Trump on Monday, April 30, postponed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1. He said the White House also has reached agreements for permanent exemptions for Argentina, Australia and Brazil.
Trump on March 23 imposed a 25% tariff on steel imports and a 10% tariff on aluminum, but granted temporary exemptions to Canada, Mexico, Brazil, the EU, Australia and Argentina.
Reuters reports that the White House says Monday’s agreements reflect administration efforts “to reach fair outcomes with allies to protect our national security and address global challenges to the steel and aluminum industries.”
Leebow tells the news service that American steelmakers need certainty that import protections won’t be eroded.
“We’re hopeful this extension moves us toward the most productive path for our domestic steel industry — the tariffs President Trump announced earlier this year and a quota system to limit the amount of imports flooding our country,” Leebow says.
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