Investors weigh the impact of US President Donald Trump's tariffs on steel and aluminum imports from Canada amid reports that the president will hold off on 50% tariffs, telling reporters he'll "let you know about it."
Steel Manufacturers Association president Philip Bell joins Market Domination Co-Hosts Julie Hyman and Josh Lipton to dive deeper into how US steelmakers are feeling about Trump's tariffs.
"We support what President Trump is doing with the tariffs. We feel that this is a central piece of his America First policy, where he is putting our economy, our national security, steelworkers and their families first in order to have fair and even trade," Bell explains.
"The steel industry has been under assault for decades with highly subsidized dumped steel from China and other bad actors. And I think this is an important step to make sure that our trading partners, like Canada and Mexico, don't aid and abet the bad actors."
Bell tells Yahoo Finance that it's his "hope that he [President Trump] sticks with at least the 25% tariffs as he originally planned."
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This post was written by Naomi Buchanan.