The Guardian - Donald Trump has said he will announce new 25% tariffs on all steel and aluminium imports into the US on Monday that would affect “everybody’, including its largest trading partners Canada and Mexico, in another major escalation of his trade policy overhaul.
Trump’s pre-announcement came as China’s retaliatory tariffs, announced last week, came into effect. The measures target $14bn worth of products with a 15% tariff on coal and LNG, and 10% on crude oil, farm equipment and some vehicles.
The US president, speaking to reporters on Air Force One on Sunday, also said he would announce reciprocal tariffs ...
The
largest sources of US steel imports are Canada, Brazil and Mexico,
followed by South Korea and Vietnam, according to government and
American Iron and Steel Institute data.
By a
large margin, Canada is the largest supplier of primary aluminium metal
to the US, accounting for 79% of total imports in the first 11 months of
2024. Mexico is a major supplier of aluminium scrap and aluminium
alloy.
The move on steel and aluminium brought a swift reaction from Doug Ford, the premier of the Canadian province of Ontario, who accused the US president of “shifting goalposts and constant chaos” that would put the economy at risk.
During his first term, Trump imposed tariffs of 25% on steel and 10% on aluminium, but later granted several trading partners duty-free quotas, including Canada, Mexico and Brazil. More
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