United States President Donald Trump plans to ease some tariffs on steel and aluminum goods, the British newspaper Financial Times (FT) reported today, citing sources familiar with the matter, Reuters reports.
Officials at the Commerce Department and the Office of the U.S. Trade Representative believe the tariffs are hurting consumers by raising the prices of goods, including pie tins and food and beverage cans, according to an FT report.
Voters across the country are concerned about consumer prices, and the cost of living is expected to be a major factor for Americans ahead of the November midterm elections.
A recent Reuters/Ipsos poll found that 30 percent of Americans approve of Trump's handling of the rising cost of living, while 59 percent disagree, including nine in 10 Democrats and one in five Republicans.
Trump imposed tariffs on steel and aluminum imports of up to 50 percent last year and has repeatedly used the levies as a negotiating tool with various trading partners.
The Trump administration is now reviewing the list of products covered by the tariffs and plans to exempt some, stop expanding the list and instead launch targeted national security investigations for individual types of goods, the FT report added.
The White House and the Commerce Department did not immediately respond to Reuters requests for comment after business hours.
Trump recently touted his economic record in Detroit, seeking to refocus attention on American manufacturing and his efforts to rein in high costs for consumers, while the White House wants to show it is addressing the economic anxieties weighing on American households.
The U.S. Commerce Department last year increased tariffs on steel and aluminum for more than 400 products, including wind turbines, mobile cranes, home appliances, bulldozers and other heavy equipment, as well as railroad cars, motorcycles, marine engines, furniture and hundreds of other products.
DON'T MISS IT
Bonus video:
