President Trump today:latest update

Democratic senator: Trump's tariffs "are like dropping a bomb on a flea"

US Senate Democratic Whip Dick Durbin just issued this statement on the President's tariffs:

"President Trump wants to put China on notice for their abusive trade practices that hurt American workers and industries. I support that. The sweeping tariffs announced today are like dropping a bomb on a flea. 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."

Paul Ryan: I fear these tariffs will have "unintended consequences

House Speaker Paul Ryan, in a statement after the President’s tariff announcement, said he disagreed with the move and feared it would have "unintended consequences."

"I am pleased that the President has listened to those who share my concerns and included an exemption for some American allies, but it should go further," Ryan said. "We will continue to urge the administration to narrow this policy so that it is focused only on those countries and practices that violate trade law."

Trump's plan includes a 25% tariff on steel imports and 10% on aluminum. Canada and Mexico are exempted. The tariffs will take effect in 15 days.

For American companies that make metals, that's welcome news. But for businesses that consume steel and aluminum, it will likely mean higher prices.

One thing Trump didn't talk about today? Automation.

President Trump spoke with nostalgia at today's tariff announcement, describing the steel industry as he knew it as he grew up.

He did not, however, talk about automation, and the modernization of the steel industry, as CNN's Jeff Zeleny points out.

"He did not talk about the fact the steel industry has, indeed, changed," Zeleny said. "One industry study said the amount of steel that it took ten hours to make in 1980, now takes two hours to make. So automation and how the economy changed was not mentioned, but it is a campaign promise."