President Trump said on Sunday that from Monday he would save 25 % of the tariff on all imports of foreign steel and aluminum and will soon announce mutual tariffs to US business partners.
The President, who spoke from Air Force One on the way to Super Bowl, said his metal tariffs apply to “all”, including Canada and Mexico, allies of America and his largest business partners.
“Any steel coming to the United States will have 25 % tariff,” Trump said. “Also aluminum.”
Mr. Trump’s decision to tax foreign metals and impose mutual tariffs comes as a result of several other business threats that he has made since victory in the White House.
Mr. Trump has saved from entering the function Another 10 % tariff for all products from China and came within a few hours of storage Sweeping In Canada and Mexico that would bring us tariff rates to a level that has not been seen since the 1940s.
Mr. Trump also said in recent days that he was planning to store tariffs on Europe, Tai -wan and other governments, as well as a number of critical industries such as copper, steel, aluminum, pharmacy and semiconductors.
The decision to impose tariffs on metals would affect some of the largest American business partners and allies.
The largest steel supplier to the United States in 2024 was Canada, followed by Brazil, Mexico, South Korea and Vietnam, according to American Iron and Steel Institute. Canada is also the main supplier of aluminum to the United States, followed by the United Arab Emirates, Russia and China.
Mr. Trump’s decision to deposit tariffs on metals is not new. In his first term of office, the president chose tariffs for foreign steel and aluminum around the world and angry allies such as Mexico, Canada and the European Union. Finally, he turned some of these obstacles in Canada and Mexico when they signed a revised trade agreement with the United States.
Biden Administration later met agreements with the European Union, the United Kingdom and Japan to return some of its business restrictions. A handful of other countries have also agreed quotas or other arrangements, but for most countries, steel and aluminum tariffs remain, said Chad Bown, manager of the Peterson Institute for the International Economy. It is not clear whether the new tariffs will be added to the old.
Both new tariff proposals would expand his business struggle to many different countries and launched trade gaps that could encourage other countries to retreat with their own tariffs for American goods.
Mr. Trump has been swinging diplomatic and economic relations with almost daily tariffs in the last week.
The reciprocal tariffs that the President proposed would increase fees for the United States for certain imports to correspond to what other countries charge for American products when they meet the goods at the border. The president could use them as a lever to find other concessions in negotiations. But they would also violate US obligations to the world business organization.
The President said his mutual tariffs would be announced on Tuesday or Wednesday at a press conference and tariffs will come into force almost immediately in each country.
“Very simply, if they charge us, we charge them,” he said.
