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Trump's New Tariffs Anger U.S. Manufacturers and Business Groups [Bloomberg Business News]

ALCOA (AA)  More Company Research Source: Bloomberg Business News
Last alcoa earnings: 7/18 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF Manufacturers and business groups slammed President Donald Trump’s decision to impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico, warning of promised retaliation and calling it a tax on U.S. companies and consumers. The U.S. Chamber of Commerce urged the administration on the eve of Thursday’s announcement not to proceed because the tariffs would hit U.S. manufacturers with higher costs, impede construction-sector growth and hurt job creation in both industries. Expected widespread retaliation from abroad would also threaten the economic momentum the administration has achieved through tax and regulatory reform, the chamber said. U.S. steel prices are already almost 50 percent higher than those in Europe or China, and aluminum prices have been extremely volatile, the chamber added. The new tariffs “would add substantially to these challenges,” the group said. “Months ago, the U.S. Chamber warned that alienating our st [Read more]

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