U.S. allies seeking to avoid the steel and aluminum tariffs approved by President Donald Trump might be asked to step up their financial commitments to NATO.
Treasury Secretary Steve Mnuchin told CNBC in an interview Friday that the president will consider national security in determining exemptions from tariffs, and noted that Trump wants to be sure that NATO gets more funding from European allies. Trump has previously criticized some European countries for not contributing enough.
Trump drew on rarely-used national security grounds to place a 25 percent tax on steel imports and 10 percent tax on imported aluminum. Only Canada and Mexico — both partners in the North American Free Trade Agreement being renegotiated — were excluded from the tariffs.