The President is proposing a 25% tariff on steel imports and a 10% tariff on aluminum. We talked with Investment Advisor Mark Grywacheski Monday, March 5 during Your Money on Good Morning Quad Cities. He says countries may impose their own tariffs on the U.S. if the President goes through with this one.
"Keep in mind the U.S. is one of the largest exporters of corn and soybeans, and historically these have been easy targets of retaliation in trade disputes," Grywacheski said Monday morning. "Maybe they will get their corn and soybeans from other nations."
The U.S. currently imports about 30% of its steel and 90% of the aluminum it uses.