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Donald Trump says he will impose tariffs from 25 percent on all steel and aluminum imports to the USA and threaten to unleash turbulence on the raw material markets and unleash trade wars throughout the global economy.
US officials said the tariffs were an answer to “foreign players” who were responsible for “increasing exports” of the metals to the country and the “US producers of steel and aluminum”.
Trump card Officials said the tariffs would apply to all US imports and that no exclusions would be granted for certain products. According to a person who is familiar with the plan, the tariffs would begin on March 4th.
Although the move to protect domestic steel manufacturers is designed, they will probably affect the US allies – including Canada and Mexico – and increase the costs for all American manufacturers who import metals significantly.
The US President Tariff announcement Come to the White House three weeks after his return and mark an escalation of his protectionist agenda. This is followed by his announcement of new taxes on the two closest trading partners in the United States, Mexico and Canada. These will come into force at the beginning of March.
Trump also said he intended to impose mutual tariffs on countries in the coming days in which US goods had taxes for US goods.
During his former trade war in 2018, the US President imposed tariffs of 25 percent for all steel imports and 10 percent for aluminum imports before negotiating for some countries.
Joe Biden, who, when he came into office in 2020, inherited Trump’s metal tariffs, graduated with the EU, Great Britain and Japan, with which they were able to export a certain amount of steel and aluminum to the US Duty-Free.
On Monday, US officials stated that these agreements would indeed be canceled, and the tariffs would be set up all steel and aluminum imports from all countries.
Officials also said Trump would remove the product exclusion process and call it a “gap”.
“We had a product exclusion process that was completely out of control in the bidges, and literally hundreds of thousands of exclusions were approved, and millions of tons of steel and aluminum were consequently not properly mapped,” said a officer of the White House.
“President Trump hereby ends the product exclusion process,” added the official.
The latest guideline is that the EU triggered immediate retaliation measures from the EU, which reacted to Trump’s tariffs in 2018 by with US goods worth EUR 2.8 billion, including Bourbon and Harley-Davidson motorcycles, used.
The EU increased these tariffs as part of the bidden-mediated agreement in 2021.
Metal prices rose In the United States on Monday before Trump’s announcement, when the dealers secure the supplies and a closely observed Aluminum contract by around 10 percent and the premium for US copper futures about those in London that have reached their highest level since 2020.
