US President Donald Trump said he will announce new tariffs on Monday, imposing a 25% duty on all steel and aluminum imports, including those from Canada and Mexico. Additional import taxes are expected later in the week.
“Any steel coming into the United States is going to have a 25% tariff,” Trump told reporters aboard Air Force One on Sunday while traveling from Florida to New Orleans for the Super Bowl, reported AP. When asked about aluminum, he confirmed, “Aluminum, too” would face similar trade penalties.
Trump also reiterated his plan to introduce “reciprocal tariffs” by midweek. “If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” AP quoted US President as saying. He hinting at new duties on foreign products when other nations impose high tariffs on US goods.
The move marks another step in Trump’s aggressive trade policies. While he previously focused on tax cuts and deregulation, tariffs are coming much earlier in this term than during his first presidency.
Trump has often used import taxes as leverage, either to push foreign governments on policy issues like immigration or to generate revenue for the US budget.
Just a week ago, he temporarily paused a similar 25% tariff threat on all Canadian and Mexican imports but went ahead with a 10% duty on goods from China.