Trump Plans New 25% Tariffs on Steel and Aluminum, Escalating Trade Policies
U.S. President Donald Trump announced on Sunday that he will introduce new 25% tariffs on all steel and aluminum imports into the United States. This move, set to be revealed on Monday, adds to existing tariffs on these metals and marks another major step in Trump’s efforts to reshape U.S. trade policies.
Speaking to reporters on Air Force One, Trump also said he will announce “reciprocal tariffs” on Tuesday or Wednesday. These tariffs, which would take effect almost immediately, aim to match the tariffs that other countries impose on U.S. goods. According to Reuters, Trump explained that this is to ensure the U.S. is treated fairly in global trade.
During his first term as president, Trump had already placed 25% tariffs on steel and 10% on aluminum. However, he later allowed some countries, like Canada, Mexico, and Brazil, to export certain amounts of these metals to the U.S. without paying the tariffs. Former President Joe Biden extended these exemptions to the UK, Japan, and the European Union.
Despite these exemptions, U.S. steel mills have been operating below their full capacity in recent years. White House spokeswoman Karoline Leavitt confirmed that the new tariffs would be added on top of the existing ones.
Trump’s decision to impose reciprocal tariffs is part of his broader strategy to protect U.S. industries and workers. On Friday, he hinted that these tariffs would target many countries, though he did not name them specifically. The goal, as reported by Reuters, is to ensure that the U.S. is not at a disadvantage in global trade.
This move is likely to escalate trade tensions with other nations, as higher tariffs could lead to increased costs for imported goods and potentially spark retaliatory measures from trading partners.
This story is based on reporting by Reuters.