AK Steel CEO Roger Newport praised Trump's decision, saying he fully supports "the actions he plans to take to stem the tide of unfairly traded steel imports that threaten the national security of our country".
Trump announced on Thursday that tariffs on steel and aluminum imports will start in 15 days with initial exemptions for Canada and Mexico and the possibility of alternatives for other countries. South Korea is reportedly trying to follow suit.
The exemptions for Canada and Mexico, which are temporary, were also seen as being prompted part by the North American Free Trade Agreement talks, where United States negotiations could use the prospect of making them permanent as a bargaining chip. But I have a feeling we're gonna make a deal on NAFTA.
NAFTA's legal structure, which offers its members tariff-free access to each other's markets, was a major complication in applying the tariffs to Canada and Mexico, according to a prominent Washington trade lobbyist, who spoke on condition of anonymity due to the sensitivity of the matter.
Metals producers have had a wild ride since the tariffs were first discussed over a week ago.
Canadians can breathe easier today - but just a little - after Donald Trump spared this country from his harsh, new tariffs on steel and aluminum imports into the United States.
Not only did Prime Minister Justin Trudeau personally call the president this week to plead for the exemption, but he and his cabinet ministers have for months lobbied American politicians to keep the borders as open as possible for trade.
In a tweet on Thursday, Trump gave a hint of Canada's exemption from the trade tariffs. Indeed, this could be the official kickoff of the trade war we all anticipated.