President Donald Trump announced a 25% tariff on all steel and aluminum imports into the U.S., citing national security concerns. This move is expected to impact the prices of these metals and potentially boost domestic production. The U.S. relies heavily on imports for both steel and aluminum, with Canada being a major supplier of raw aluminum.
President Donald Trump told reporters Sunday that he will impose 25% duties on all steel and aluminum imports into the U.S.The U.S. relies on imports for more than 80% of its aluminum needs, according to a note from JP Morgan.
"Any steel coming into the United States is going to have a 25% tariff," Trump told reporters on Air Force One on Sunday. The president said he will also slap 25% tariffs on aluminum imports.
TRUMP TARIFFS STEEL ALUMINUM IMPORTS TRADE
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