The tariffs will go into effect 15 days from Thursday and will retain flexibility for the president.
Trump signed a 25 percent import tariff on steel and a 10 percent one on aluminum on Thursday, saying it was for both economic and national security.
The president insisted, however, they are necessary to revive America's steel industry. "Launching an all-out trade war will alienate the allies we need to actually solve the problem of steel dumping, and could have huge unintended consequences for American manufacturers who depend on imported materials".
Railroad tracks run past the blast furnaces of the now-closed Bethlehem Steel mill in Bethlehem, Pennsylvania, April 21, 2016.
Business leaders, meanwhile, have continued to sound the alarm about the potential economic fallout from tariffs, with the president and CEO of the U.S. Chamber of Commerce raising the specter of a global trade war.
"We're going to be doing a reciprocal tax programme, at some point so that if China is going to charge us 25 per cent or if India is going to charge us 75 per cent and we charge them nothing", he said.
Man arrested for murder of journo Gauri Lankesh
The police officer said Kumar has been apprehended on Friday on suspicion of providing weapons used to kill Lankesh. The 3rd Court of the Additional Chief Metropolitan Magistrate has given the SIT custody of Kumar for 5 days.
The Trump administration has argued that protecting domestic steel and aluminum is a matter of national security, despite acknowledging that US military requirements for steel and aluminum require only 3 percent of domestic production. In addition to such iconic brands, the American products that would face a tit-for-tat European Union tariff of 25 percent range from steel bars and motor boats to t-shirts and orange juice, peanut butter and cranberries.
Flake noted that when President Jimmy Carter imposed a tariff on oil imports in the 1970s, Congress voted to nullify them and even overrode a subsequent presidential veto to do so.
Sen. Cory Gardner, R-Yuma, said he agreed with Trump's view that the US needs fair trade agreements, but he thinks Trump's broad tariffs could misfire instead of deliver higher wages and economic growth. He said American companies had not been treated fairly by other countries.
"I'm not saying every single one will be dealt with", Mnuchin said in response to questions from reporters in NY. "Steel is steel. If you don't have steel, you don't have a country".
'We urge the administration to take this risk seriously, ' Donohue said.
Ryan, appearing at a session with Home Depot employees in Atlanta, said ahead of Trump's announcement, "I'm just not a fan of broad-based, across-the-board tariffs".
The White House had punted Wednesday on the timetable, with Press Secretary Sarah Sanders telling reporters that he was expected to 'sign something by the end of the week'. At the same time, the number of workers in the steel industry has fallen off, so the real decline in the U.S. steel industry employment may be from technology and productivity gains, rather than foreign steel.