The United States will impose new 25% tariffs on steel and aluminum imports this week, President Donald Trump announced on Sunday.
He said the policy, set to be revealed on Monday, will affect all steel entering the country, including aluminum.
Trump had previously enforced similar tariffs during his first term in office to support U.S. industries against foreign competition.
Canada remains the largest supplier of steel and aluminum to the U.S., followed by Brazil, Mexico, and South Korea.
He also revealed plans for “reciprocal tariffs,” matching the rates imposed by other nations on U.S. goods. A more detailed statement on these tariffs is expected by midweek.
Since returning to office, Trump has used trade tariffs as a tool in international relations.
He recently paused tariffs on Canada and Mexico for a month after both countries pledged to take action against drug trafficking and illegal migration.
However, tariffs on Chinese goods have already taken effect, prompting China to retaliate with new levies on American exports, including coal and liquefied natural gas.
French President Emmanuel Macron has opposed Trump’s tariff policies, warning that they could drive up costs and inflation in the U.S.
Meanwhile, Trump has also hinted at possible tariffs on Japanese exports unless the country takes steps to reduce the U.S. trade deficit.
Leave a Reply