President Donald Trump announced his intention to impose a 25% tariff on all steel and aluminum imports, including from Canada and Mexico, starting Monday. He also stated that reciprocal tariffs, targeting products from countries that impose duties on U.S. goods, would be announced later in the week. This move, fueled by Trump's ongoing trade policy, comes amidst concerns about rising inflation and its impact on consumer sentiment.
President Donald Trump said he will announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week.“Any steel coming into the United States is going to have a 25% tariff,” he told reporters Sunday on Air Force One as he flew from Florida to New Orleans to attend the Super Bowl. When asked about aluminum, he responded, “aluminum, too” will be subject to the trade penalties.
Tariffs are coming much earlier in his presidency than during his previous four years in the White House, when he prioritized tax cuts and deregulation. Trump has alternately said he sees import taxes as tools to force concessions on issues such as immigration, but also as a source of revenue to help close the government's budget deficit.Financial markets fell on Friday after Trump first said he would impose the reciprocal tariffs.
TARIFFS TRADE STEEL ALUMINUM IMPORTS
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