President Donald Trump is reportedly planning to roll back some tariffs on steel and aluminum goods, according to a Financial Times report citing people familiar with the matter. The administration is reviewing the list of products covered by the tariffs — which at times have reached up to 50% — and may exempt certain items and narrow the focus toward more targeted national security inquiries.
Officials are considering this shift partly because they believe the tariffs have raised costs for consumers on everyday products. The potential change comes amid voter concern over the cost of living ahead of the November midterm elections. Neither the White House nor the Commerce Department had commented publicly on the plan. Reuters writes:
U.S. President Donald Trump plans to scale back some tariffs on steel and aluminum goods, the Financial Times reported on Friday, citing people familiar with the matter.
Officials in the Commerce Department and U.S. trade representative’s office believe the tariffs are hurting consumers by raising prices for goods including pie tins and food-and-drink cans, the FT report said. […]
