Isaac Larian, CEO of MGA Entertainment, says Donald Trump is a great President, while expressing concerns about Clampan countdown tariffs.
President Donald Trump On Monday, it is expected to sign new executive orders that impose higher tariffs on steel and aluminum imports into the United States and open a new front in its trade war that can retaliate.
Trump's actions will impose 25 % of the new tariff on all steel and aluminum imports at the top of the tariffs on these metals to the United States and increase his efforts to transform trade policy.
Tariffs, which are Tax on importsIncrease the costs of importers, which usually convey some or all the costs to their customers. In the case of steel and aluminum, US companies are strongly relied on imports and higher costs can damage the manufacturers and in turn.
“The US economy is far more than steel users than steel users, meaning that these tariffs are at risk for more manufacturing jobs. They give. ” “Looking at steel, jobs that use steel in the production process are greater than more jobs that produce 80 to 1 steel.”
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President Trump said he will sign a 25 % order to increase steel and aluminum tariffs. (Andrew Harnic / Giti Images)
“Automotive manufacturers, farm equipment, home appliances and machinery used in oil extraction, construction industry and beverage industry, all use metals as part of their production process,” he said.
“When we Apply tariffsWe increase the cost of both imported metals and domestic metals, which increases the cost of production in the United States for all these downstream industries. We should expect the net reduction in production and production as a direct result of higher tariffs. “
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US companies relies heavily on imports and higher costs can damage manufacturers and in turn. (Ty Wright / Bloomberg through / Getty Images)
Ryan Young, a senior economist at the company's competitive institute, told Fox Business that cars and housing are probably the two most hardest parts of steel use.
“If you are in the market for a new car or a new home on the market, you expect to pay for a medium -sized car and a few thousand dollars for a home,” Yang said. New cars are raising the price of cars because pricing buyers are looking for cheaper options.
Aluminum tariffs also increase car and home prices as well as companies in the beverage industry such as Coca-Cola, Pepsi and Breweries, he said. Other everyday aluminum items that are likely to see prices include bicycles, accessories and furniture.
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US manufacturers may face higher costs due to increased steel and aluminum tariffs. (Andrew Magnum / Bloomberg through / Giti Pictures)
About a quarter of all Steel used in the United States It has been imported from the neighborhood of Mexico and Canada or close closest to Asia and Europe such as Japan, South Korea and Germany.
Although China is the world's largest steel producer and exporter, but due to the 25 % tariff imposed in 2018 that is the most closed, it is sent to the United States Steel Outside the market, it exported 508,000 tonnes of steel to the United States last year, accounting for 1.8 % of US steel imports.
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The United States is heavily dependent on aluminum imports, and about half of the total aluminum used uses imports. The overwhelming majority of US aluminum imports from Canada said it exported 3.2 million tonnes of aluminum to the United States last year – more than twice the nine next country.
Reuters was involved in this report.