The US President announced that on Monday he plans to impose 25% tariffs on all steel and aluminum imports into the United States, and later this week will take other actions to level tariffs with the rest of the world. The metal tariffs will apply to «everyone», including Canada and Mexico. «Any steel coming into the United States will be subject to a 25% tariff», — Trump is quoted by The New York Times.
He also said that on Tuesday or Wednesday he will announce retaliatory tariffs, which will take effect almost immediately, applying them to all countries and matching the tariff rates charged by each country. «It's very simple: if they take from us, then we take from them», — Trump said about the reciprocal tariff plan.
According to the American Iron and Steel Institute, the largest supplier of steel to the US is Canada, followed by Brazil, Mexico, South Korea, and Vietnam. Canada is also the largest supplier of aluminum to the US (79% of total imports for the first 11 months of last year), followed closely by the United Arab Emirates, Russia, and China.
«Canadian steel and aluminum support key US industries — defense, shipbuilding, and automotive, — responded on the X site Canadian Minister of Innovation François-Philippe Champagne. — We will continue to stand up for Canada, our workers, and our industries».
Since taking office, Trump has imposed additional 10% tariffs on all goods from China and also announced plans to impose tariffs against Europe, Taiwan, and other countries, as well as against several key industries such as copper, steel, aluminum, pharmaceuticals, and semiconductors.
In his first term, Trump already imposed tariffs on foreign steel and aluminum worldwide, angering allies such as Mexico, Canada, and the European Union. Eventually, he lifted some of these barriers against Canada and Mexico when they signed a revised trade agreement with the United States. Later, the Biden administration reached agreements with the European Union, the United Kingdom, and Japan to remove some trade restrictions.
Over the past week, Trump has already undermined diplomatic and economic relations with almost daily tariff threats, notes NYT.
Photo: The New York Times