President Trump announces his intent to place tariffs on importe - KTIV News 4 Sioux City IA: News, Weather and Sports

President Trump announces his intent to place tariffs on imported steel and aluminum

(NBC News) -

Republicans - for and against President Trump's tariffs. 

Sen. Lindsey Graham (R) - South Carolina said, "You're letting China off the hook. You're punishing the American consumer and our allies. You're making a huge mistake here."

Others believe it'll save jobs.

Sen. Joe Manchin (D) - West Virginia said, "The people at Main Street are saying, we got devastated. We got hurt. We have lost good jobs with benefits. We can't compete."

To correct America's $800 billion trade deficit, the president says he'll impose 25% tariffs on imported steel in 10% on aluminum. 

The White House insists consumers will barely notice.

The White House Trade Advisor, Peter Navarro said, "I think the American people are willing to pay a cent and half more for a six pack of beer in order to have an aluminum and steel industry."

Europe is threatening to retaliate with its own tariffs.

If so, President Trump tweets he'll tax their cars.

Commerce Secretary Wilbur Ross said, "What the European Union has talked about is some three billion or so of potential retaliation. That's an even smaller fraction of one percent of the economy."

President Trump is expected to sign off on the tariffs this week.

It's driving a wedge between us and Europe. One Democrat calls that a gift to Russia.

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