President Donald Trump announced that the United States will impose 25% tariffs<\/strong> on all steel and aluminum imports, including from Canada, Mexico, South Korea, and the European Union, starting Monday. The move marks a significant escalation in U.S. trade policy, with additional reciprocal tariffs<\/strong> on other goods set to be unveiled later this week.<\/p>\n\n\n\n

Trump\u2019s decision to increase import duties comes as part of his broader effort to revise global trade relationships<\/strong> and protect U.S. industries<\/strong>. The tariffs are expected to impact key trading partners<\/strong> while drawing concerns over potential retaliation<\/strong>, rising costs for manufacturers, and possible economic disruptions.<\/p>\n\n\n\n

Steel and aluminum tariffs to take effect immediately<\/strong><\/h2>\n\n\n\n

The 25% tariffs on steel and aluminum<\/strong> will apply across all countries, without exemptions for historical allies<\/strong> such as Canada <\/a>and Mexico<\/strong>. Trump confirmed the measure while speaking to reporters aboard Air Force One<\/strong> on Sunday, emphasizing that his administration seeks to rebalance trade terms<\/strong>.<\/p>\n\n\n\n

\u201cAny steel coming into the United States is going to have a 25% tariff,\u201d he stated, later confirming that aluminum imports would also face the same duty. The decision affects some of the largest suppliers to the U.S. market. Canada<\/strong>, which provided nearly 79% of U.S. aluminum imports<\/strong> in the first 11 months of 2024<\/strong>, will be significantly impacted. Other top exporters of steel<\/strong> include Brazil, Mexico, South Korea, and Vietnam.<\/p>\n\n\n\n

Economic repercussions are already being felt<\/strong>. The announcement led to a decline in global stock markets, with shares of major steel producers, <\/strong>including South Korea\u2019s POSCO and Hyundai Steel, dropping on Monday. South Korea\u2019s trade ministry held an emergency meeting<\/strong> to assess the impact, while European and Canadian officials voiced concerns over economic consequences.<\/p>\n\n\n\n

Reciprocal tariffs set to heighten trade tensions<\/strong><\/h2>\n\n\n\n

Alongside the steel and aluminum duties, Trump confirmed plans for reciprocal tariffs<\/strong>, which would impose import duties equal to those levied on U.S. exports by other countries. \u201cIf they charge us, we charge them,\u201d he said, suggesting a shift toward bilateral trade confrontations<\/strong>.<\/p>\n\n\n\n

Industry leaders have warned of broader economic consequences. Kevin Dempsey,<\/strong> CEO of the American Iron and Steel Institute<\/a>, supported the move but acknowledged that rising costs for manufacturers and potential retaliation from trade partners could create new economic challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. is escalating its trade war as Trump announces sweeping tariffs on steel and aluminum imports. Major trading partners, including Canada and Mexico, are caught in the crossfire. Markets are already reacting, and the fallout could reshape global trade.<\/p>\n","protected":false},"author":10,"featured_media":101724,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1,29],"tags":[],"class_list":["post-101722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-taxation","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/posts\/101722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/comments?post=101722"}],"version-history":[{"count":2,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/posts\/101722\/revisions"}],"predecessor-version":[{"id":101725,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/posts\/101722\/revisions\/101725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/media\/101724"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/media?parent=101722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/categories?post=101722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/wp-json\/wp\/v2\/tags?post=101722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

The scope of these tariffs <\/a>remains unclear<\/strong>, but industries ranging from automobiles to consumer goods<\/strong> could be affected. Trump has frequently criticized Europe\u2019s 10% tariff on U.S. car imports, compared to the 2.5% duty on European vehicles<\/strong> entering the U.S.<\/strong> The new policy could escalate tensions with key economies, including the European Union, China, and Japan.<\/p>\n\n\n\n