Trump Speaking

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Hefren-Tillotson’s Jayme Meredith Says Trump’s Tariffs “Ceremonial More Than Anything”

Financial Adviser Doesn’t See Proclamations’ Benefit

By Jennifer Bloodworth for NewsRadio 1020 KDKA

PITTSBURGH (NewsRadio 1020 KDKA) – President Trump signed proclamations Thursday imposing the steel and aluminum tariffs he promised.

A 25% tariff will be added to imported steel and 10% to aluminum.

Trump says they will go into effect in about two weeks. Canada and Mexico may be exempted from the levies based on renegotiations of the North American Free Trade Agreement (NAFTA).

“I think the impact now is very, very muted,” Hefren-Tillotson senior vice president Jayme Meredith told the KDKA Radio Afternoon News Thursday.

“Certainly we don’t want to make enemies of our trading partners. I think at this point it’s more kind of ceremonial than anything else,” Meredith said. “It wouldn’t have had a big impact anyway.”

Meredith says the entire metals industry is a very small part of the U.S. GDP.

The proclamations come days after Trump’s senior economic adviser Gary Cohn resigned.