Republicans in Congress, business groups prepare for tariffs
WASHINGTON (AP) — Congressional Republicans and business groups braced Wednesday for the impact of expected tariffs on steel and aluminum imports, appearing resigned to additional protectionist trade actions as President Donald Trump signaled upcoming economic battles with China.
The looming departure of White House economic adviser Gary Cohn, a former Goldman Sachs executive who has opposed the promised tariffs, set off anxiety among business leaders and investors worried about a potential trade war.
The White House said Trump was expected to make a final announcement soon on the planned tariffs of 25 percent on steel imports and 10 percent on aluminum imports.