Trump announced 25% tariff on steel and aluminum imports these countries will be affected
US President Donald Trump will announce a 25% duty on all steel and aluminum imports into the US. Trump said that this will be another big step in his trade policy. Trump said that he will announce this tariff on Tuesday or Wednesday, which will come into effect immediately.
US President Donald Trump will announce a 25% duty on all steel and aluminum imports into the US. Trump said that this will be another big step in his trade policy. Trump said that he will announce this tariff on Tuesday or Wednesday, which will come into effect immediately. Trump said that the US will match the duty rates imposed by those countries and it will be applicable to all countries.
US President Donald Trump has taken another big step regarding his trade policy. He announced on Monday that the US will impose a 25 percent tariff on all steel and aluminum imports. Trump gave this information while talking to reporters on Air Force One while going to the NFL Super Bowl in New Orleans. He said that reciprocal tariffs will be announced on Tuesday, which will be effective almost immediately. However, the Republican leader did not clarify who will be targeted through reciprocal tariffs. He stressed that the US rate will be equal to the tariff rates imposed by other countries. Also, it will be applicable to all countries.
Donald Trump said about his reciprocal tariff plan, ‘It’s very simple. If they charge us, we’ll charge them.’ He imposed a 25 percent tariff on steel and 10 percent on aluminum during his first term from 2016-2020. But later, duty-free quotas were given to many trading partners, including Canada, Mexico and Brazil. Former President Joe Biden also extended this quota to Britain, Japan and the European Union. In recent years, it has been observed that US steel mill capacity utilization has declined.
These countries, including Canada and Brazil, will be most affected
Canada, Brazil and Mexico have been the largest sources of US steel imports. It is followed by South Korea and Vietnam. Canada has been the largest supplier of aluminum metal to the US. In the first 11 months of 2024, 79 percent of the total imports came from here. Mexico is a major supplier of aluminum scrap and aluminum alloy. Experts believe that these countries will be most affected by President Trump’s decision to increase tariffs. In such a situation, it will be interesting to see what kind of decisions are taken in return by countries like Canada and Brazil.