Trump Delaying Decision on Steel and Aluminum Tariffs, Sources Say

• March 01 2018
• Joe Deaux, Andrew Mayeda, Justin Sink

President Donald Trump has delayed a decision on imposing tariffs on steel and aluminum, according to people familiar with the issue.

President Donald Trump has delayed a decision on imposing tariffs on steel and aluminum as his administration weighs a move that could antagonize friends and foes alike, according to people familiar with the issue.

The White House has postponed the decision beyond Thursday, when the president was initially expected to make the announcement, said three people familiar with the matter who spoke on condition of anonymity because the deliberations aren’t public.

Trump had told aides he wants tariffs of 25 percent on steel and 10 percent on aluminum from all countries -- both of which would exceed the most severe option presented to him by the Commerce Department.

A White House official said early Thursday that there would be an announcement on trade later in the day. Trump is holding a “listening session” on Thursday with chief executives including ArcelorMittal USA’s John Brett, Nucor Corp.’s John Ferriola and Century Aluminum Co.’s Mike Bless, over the investigations.

Century Aluminum was up 2.3 percent at 11:07 a.m. in in New York after rising as much as 8.5 percent. AK Steel Holding Corp. was up 2.1 percent after jumping as much as 12 percent. U.S. Steel Corp. advanced 1.8 percent and was up as much as 8.4 percent. Nucor, the largest U.S. producer, climbed 1.8 percent.