Hundreds of companies excused from steel tariff
Despite President Donald Trump's tough talk on trade, his administration has granted hundreds of companies permission to import millions of tons of steel made in China, Japan and other countries without paying the hefty tariff he put in place to protect U.S. manufacturers and jobs, according to an Associated Press analysis.
The waivers from the import tax show how pliable his protectionist policies can be. Trump has positioned himself as an "America First" trade warrior, using tariffs as a club against countries he's accused of playing unfairly. Although China has been the principal target of Trump's ire, he also has criticized Japan and American allies in Europe.
"I love tariffs, but I also love them to negotiate," Trump said Friday during a Rose Garden news conference.
Behind the scenes, however, his Commerce Department approved tariff exemption requests from 370 companies for up to 4.1 million tons of foreign steel, with roughly 8 percent of the total coming from China and close to 30 percent from Japan, according to AP's review of thousands of applications for relief from the import tax on steel. Many recipients of the waivers are subsidiaries of foreign-owned businesses.
https://www.msn.com/en-us/money/companies/ap-analysis-hundreds-of-companies-excused-from-steel-tariff/ar-BBTCpSG?li=BBnbfcN&ocid=spartanntp
Doling out special favors?
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