Key Takeaways
- US President Donald Trump to announce 25% tariffs on steel and aluminum imports
- Reciprocal tariffs to be imposed in response to those imposed by other countries
- New tariffs to take effect on Monday, with official statement to be made
Washington: U.S. President Donald Trump said on Sunday that he will announce new 25-percent tariffs on all steel and aluminum imports into the United States, with the official statement to be made on Monday.
Speaking to reporters on Air Force One, Trump also said he would announce “reciprocal tariffs” as soon as Tuesday to align with those of its trading partners.
In his first term, Trump imposed 25% tariffs on steel and 10% tariffs on aluminum imports due to national security concerns. He later granted duty-free quotas to certain trading partners, including Canada, Mexico, and Brazil.
Under former President Joe Biden, the United States continued some tariff exemptions introduced under Trump and extended new quotas for the European Union, Britain and Japan.
On Feb. 1, Trump signed executive orders to impose 25-percent additional tariffs on imports from Canada and Mexico and a 10-percent tariff hike on imports from China, drawing widespread opposition and immediate retaliations.
He later paused the tariffs on Mexico and Canada for one month to allow negotiations.
