Text of Trump steel and aluminum tariffs indicate rates effective from March 12

The White House said March 4 would be the date of tariffs but the text of the executive order on steel and aluminum says the new tariff rates will be effective from March 12.

That leaves plenty of time for negotiations.

Meanwhile, the Mexican economy minister is on the wires:

• Mexico is the main destination for total US steel exports
• This tariff ‘is a bad idea’
• We import more from the US than we export
• Says Mexico will do consultations with the US

Separately, Canadian Prime Minister Justin Trudeau said he would speak to other Western allies about plotting a “firm and clear” response to the U.S.’s 25% tariff on all imported steel and aluminum.

This article was written by Adam Button at www.forexlive.com.