Trump Backtracks on Steel and Aluminum Tariffs

“Donald Trump is planning to scale back some tariffs on steel and aluminum goods as he battles an affordability crisis that has sapped his approval ratings ahead of November’s midterm elections,” the Financial Times reports.

“The president hit steel and aluminum imports with tariffs of up to 50 percent last summer, and has expanded the taxes to a range of goods made from those metals including washing machines and ovens.”

“But his administration is now reviewing the list of products affected by the levies and plans to exempt some items, halt the expansion of the lists and instead launch more targeted national security probes into specific goods.”