No. If you are in the US and you import steel from abroad you pay 25% in taxes to the US government. The exporting party does not pay anything but risks losing their US clients.
Not sure how this works though for a Tesla factory in Germany for example that imports steel from the Netherlands.
But my point was Musk, who threw millions of dollars into Trumps campaign is probably exempt anyway.
Apart from that I understand US companies like European high grade steel alot so this is gonna hurt the US even more.
The tariff is not on the import though, it’s on the export
No. If you are in the US and you import steel from abroad you pay 25% in taxes to the US government. The exporting party does not pay anything but risks losing their US clients.
Not sure how this works though for a Tesla factory in Germany for example that imports steel from the Netherlands.
But my point was Musk, who threw millions of dollars into Trumps campaign is probably exempt anyway.
Apart from that I understand US companies like European high grade steel alot so this is gonna hurt the US even more.
Tl;dr tariffs are bad for everyone.