The CEO of Nucor Corp., the largest steel producer in the U.S., has expressed support for President Donald Trump's tariffs on China, Canada, and Mexico. In a statement, Leon J. Topalian, the chair, president, and CEO of Nucor Corp., commended President Trump's America First Trade Agenda and pledged to work together to enforce trade laws and bolster American manufacturing.
Nucor Corp., headquartered in North Carolina, is a key player in the steel industry and scrap metal recycling sector in the nation. The company's CEO recently appeared on CNBC and lauded Trump's tariffs as measures to combat currency manipulation and steel subsidization from foreign sources.
President Trump signed an executive order authorizing tariffs on Mexico, Canada, and China under the International Emergency Economic Powers Act. The tariffs, effective immediately, include 25% on imports from Canada and Mexico and 10% on imports from China, with a lower 10% tariff on energy resources from Canada.
The executive order cites threats posed by illegal aliens, drugs, and criminal activities as reasons for imposing tariffs. Foreign leaders, including Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau, have criticized the tariffs, with Trudeau urging residents to support Canadian products.
President Trump defended the tariffs, accusing Canada of restricting U.S. banks and imposing barriers on American farm products. He emphasized the need for fair trade practices and reciprocity in international trade relationships.
