Trump, 25% tariff on steel and aluminum - The measure is expected to mainly hit Canada, Brazil, Mexico
US President Donald Trump said he will impose new tariffs of 25% on all steel and aluminium imports into the US, in addition to existing duties on the metals.
He also said he would announce reciprocal tariffs on Tuesday or Wednesday, which would take effect immediately, applying them to all countries and matching the tariffs imposed by each country.
The largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam, according to government data and the American Iron and Steel Institute.
By a wide margin, hydropower-rich Canada is the largest supplier of primary aluminum metal to the US, accounting for 79% of total imports in the first 11 months of 2024.
"Canadian steel and aluminum support key industries in the U.S., such as defense, shipbuilding, and automobiles," the Canadian Ministry of Innovation posted.
During his first term, Trump imposed tariffs of 25% on steel and 10% on aluminum, but later made exceptions for some trading partners, including Canada, Mexico and Brazil. Mexico is a major supplier of aluminum scrap and aluminum alloys.
Former President Joe Biden later negotiated tariff-free quota agreements with Britain, the European Union and Japan. It was not immediately clear from Trump's announcement what would happen to those exemptions and quota agreements.
Quebec in Canada exports 2.9 million tons of aluminum to the US, or 60% of its needs. According to Canadian officials, the country should begin renegotiating its free trade agreement with the United States as soon as possible to end this uncertainty.
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