Hutchinson Leader: ‘This couldn’t have come at a worse time’: New tariffs come with local consequences
President Donald Trump has imposed tariffs that some economists believe will either harm the U.S. economy or give no benefit. McLeod County’s manufacturing and agriculture businesses, like those of the rest of the country, are navigating potential consequences to stay ahead of shortfalls.
On June 1, Trump signed off on two proclamations the White House said address “the impairment to the national security threatened by imports of steel and aluminum,” modifying Section 232 tariffs for an additional 25 percent tax on imported steel and an additional 10 percent tax on imported aluminum from Mexico, Canada and the European Union. Mexico responded four days later with retaliatory tariffs valued at $3 billion worth of goods.
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