Washington, March 8 (IANS) US President Donald Trump looked set to introduce new trade tariffs as early as Thursday, according to a report from Dow Jones Newswires made available to Efe news agency.
Trump is expected to sign a decree laying out new tariffs on steel and aluminum, the report said.
“We are definitely going to end up with these tariffs,” Treasury Secretary Steven Mnuchin said on Fox Business, adding “and we’re going to roll this out very, very quickly”.
However, the measure looked set to spare both Canada and Mexico, for now, Dow Jones reported.
Still, it marks a turn in policy that could recalibrate relations between the US and its allies and trading partners, and ripple through the economy.
The decision follows intense lobbying efforts by lawmakers, aides, industries and trade partners, some hoping the president would back down and others pushing to ensure he doesn’t back off.