President Donald Trump has signed a sweeping tariff bill, raising the prospect of a trade war with China.
The president said Friday he will impose a $300 per ton tariff on steel imports and a $50 per ton on Chinese imports.
The measure will hit China’s biggest economy hard, hurting the manufacturing sector, and it’s also likely to cause major damage to the U.S. steel industry, Trump said.
The White House said the tariffs will go into effect as soon as Congress passes a spending bill to pay for the measures.
Trump’s move follows an earlier proposal by President Xi Jinping that his country levy a 35 percent tariff on imports from China and a 20 percent tariff to U.s. goods from China.
The two countries are currently locked in a trade dispute that has been resolved through bilateral talks.
Trump said Thursday the tariff could hit U.