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What makes this moment even more perilous is that world leaders come to the table with far less cohesiveness, nursing wounds from a series of trade skirmishes.Politicsread more
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President Donald Trump is slated to sign executive orders on Thursday enacting broad new tariffs on steel and aluminum imports.
The executive proclamations will apply import taxes of 25 percent on steel and 10 percent on aluminum, and will take effect 15 days after being signed.
Shortly before Trump signed the orders, however, the Associated Press reported that "all countries" are being "invited" to negotiate with the White House to carve out exclusions from the tariffs.
Trump relied on a law last used in the early 1990s to bypass Congress in pursuit of the new tariffs. He based decision primarily on a Commerce Department report assessing the potential national security threats from the metal imports.
White House economic advisor Gary Cohn, who was against the tariffs, announced his resignation on Tuesday. Cohn joined Trump and other White House officials on Thursday for his final Cabinet meeting, where Trump said he has "a feeling" Cohn will return to the administration.
"I don't know if I can put him in the same position though. He's not quite as strong on those tariffs as we want, but that's OK," Trump said.