Trump warns of extensive tariffs on crucial metal imports

President Donald Trump has warned that the US will implement an additional 25% tariff on all steel and aluminum imports. Read Full Article at RT.com

Trump warns of extensive tariffs on crucial metal imports
US President Donald Trump has announced his intention to impose additional tariffs on essential metal imports. While speaking to reporters aboard Air Force One on Sunday, Trump disclosed that he plans to introduce new 25% levies on all steel and aluminum imported into the United States, with further details expected to be announced on Monday.

“Any steel coming into the US is going to have a 25% tariff,” Trump stated, noting that aluminum is also included in this new measure and that it will impact “everybody.” He also mentioned that these tariffs would be in addition to existing duties on metals.

The United States ranks as one of the largest consumers of steel globally and is the second-largest importer of steel. Its main suppliers include Canada, Brazil, and Mexico, with South Korea and Vietnam also contributing to its imports, according to the American Iron and Steel Institute. Additionally, Canada is the leading supplier of aluminum to the US, with about half of the aluminum used in the country being imported. Mexico plays a significant role as a provider of aluminum scrap and alloys.

During his first term, Trump implemented 25% tariffs on steel imports and 10% on aluminum, although he later offered tariff-free quotas to major trading partners such as Canada, Mexico, and Brazil.

The proposed metals tariffs have already sparked criticism in Canada, where Ontario's Premier Doug Ford has accused Trump of “shifting goalposts and constant chaos,” arguing that these actions jeopardize Canada’s economy.

Since his inauguration last month, Trump has been active in imposing tariffs, applying a 25% levy on all imports from Mexico and Canada, and a 10% levy on imports from China, citing concerns regarding illegal immigration and drug trafficking.

After talks with leaders from Mexico and Canada, Trump delayed the implementation of these levies for 30 days to allow the countries to enhance border security measures. On Friday, he also put a hold on a significant portion of the tariffs on China, temporarily preserving the long-standing duty-free status for small-value packages, following disruptions in deliveries caused by his tariff actions.

During his comments on Sunday, Trump warned that tariffs might soon expand to other areas. He reaffirmed his commitment to impose “reciprocal tariffs” on US trade partners, which would apply universally to all nations, enabling tariff rates to align with those charged by other countries.

“If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” Trump said, adding that more details would likely be revealed “probably Tuesday or Wednesday,” with the new tariffs set to take effect “almost immediately.”

Ian Smith contributed to this report for TROIB News