President Trump on Sunday said he would impose a 25% tariff on all foreign steel and aluminum imports into the United States as of Monday, and would soon announce mutual tariffs on American trading partners.
Speaking from the Air Force on his way to the Super Bowl, the president said his metal tariffs would apply to “all people,” including Canada and Mexico, American allies and its biggest trading partners.
“Steel coming into the US will have 25% tariffs,” Trump said. “Aluminum too.”
Trump's decision to tax foreign metals and impose mutual tariffs has been sparked by several other trade threats since his victory at the White House.
Since taking office, Trump has imposed an additional 10% tariff on all products from China, bringing tariff charges to levels not seen since the 1940s after imposing sweep tariffs on Canada and Mexico. I think so.
Trump also said he has recently planned to impose tariffs on Europe, Taiwan and other governments, as well as a variety of key industries, including copper, steel, aluminum, pharmaceuticals and semiconductors.
The decision to impose tariffs on metals will affect some of America's biggest trading partners and allies.
According to the American Steel Institute, Canada was the largest steel supplier to the United States in 2024, followed by Brazil, Mexico, South Korea and Vietnam. Canada is also a major US aluminum supplier, with United Arab Emirates, Russia and China moving away.
Trump's decision to impose tariffs on metals is nothing new. In his first term, the president angered allies such as Mexico, Canada and the European Union, imposing tariffs worldwide on foreign steel and aluminum. He eventually rolled back some of those barriers in Canada and Mexico when they signed a revised trade agreement with the United States.
The Biden administration later reached agreements with the European Union, the UK and Japan, rolling back some of the trade restrictions. Thousands of other countries have negotiated allocations and other arrangements, but most countries still have tariffs on steel and aluminum, said Chad Bowun, a senior fellow at the Peterson Institute for International Economics. Masu. It is not clear whether new tariffs will be added to old tariffs.
Both Trump's new tariff proposals will expand the trade war to many different countries that could cause trade spats that encourage other countries to retaliate with their own tariffs on American goods. Sho.
Over the past week, Trump has already shaken up diplomatic and economic ties with almost a day's tariff threat.
The mutual tariffs proposed by the President would increase the tax on certain imports so that other countries would match what these goods charge to American products when they cross the border. They can be used as levers by the President to seek further concessions in the negotiations. But they also violate the US commitment to the World Trade Organization.
The president said his mutual tariffs would be announced at a press conference on Tuesday or Wednesday, with tariffs going to be enacted “almost immediately” in all countries.
“In very simple terms, if they charge us, we charge them,” he said.
