BUSINESS/GOP/TAXES/TRUMP AS PRESIDENT: “Since he became president, Donald Trump’s threats to sanction global trading partners sent tremors through business-oriented congressional Republicans worried about how potential retaliation from abroad could reverberate through the businesses and farms in their districts.
On Thursday, the rattle turned into an earthquake. The president’s announcement of plans to put barriers on steel and aluminum imports drew quick condemnation from GOP lawmakers who almost uniformly labeled the action a ‘tax’ because of the potential costs for manufacturers in their districts who use the metals… His plan to impose tariffs of 25% on steel imports and 10% on aluminum imports is set to benefit domestic U.S. producers, which pleased key Democrats eager to support production in their states.
But the metals move, if finalized, will boost the cost of metals for a host of other industries such as automobiles and construction equipment that use steel and aluminum, perhaps even resulting in higher prices for consumers. That worries Republican lawmakers who are supportive of the broader business community and wary of taxes and tariffs.
Democrats from steel-heavy states applauded Mr. Trump’s move.”
-William Mauldin, “Trump’s Steel-Tariffs Plan Rattles GOP Lawmakers,” The Wall Street Journal online, Mar. 2, 2018 07:00am