Trump plans to lift tariffs on some steel and aluminum products.

Reuters reported on February 13 that U.S. President Donald Trump plans to reduce tariffs on some steel and aluminum products.

The Financial Times reported that officials from the U.S. Department of Commerce and the Office of the U.S. Trade Representative believe that these tariffs are harming consumers by driving up commodity prices. Voters across the United States are generally worried about rising consumer prices, and the cost of living is expected to be an important consideration for U.S. citizens in the mid - term elections in November.

Trump imposed tariffs of up to 50% on imported steel and aluminum products last year and has repeatedly used tariffs as a bargaining chip in negotiations with trading partners. In August last year, the U.S. Department of Commerce included steel and aluminum derivative products in more than 400 product categories in the 50% tariff list, including wind turbines, cranes, household appliances, bulldozers and other heavy equipment, as well as railway wagons, motorcycles, marine engines, furniture, etc.

According to The Financial Times, the Trump administration is currently reviewing the list of products affected by the tariffs and plans to exempt some goods, suspend the expansion of the list, and instead conduct more targeted national security investigations on specific goods.

Trump recently boasted about his economic achievements in Detroit, aiming to refocus public attention on U.S. manufacturing and its efforts to deal with high consumer costs. (Economic and Commercial Office of the Embassy of the People's Republic of China in Ireland)