Tue, 11 Feb 2025

Tue, 11 Feb 2025 Trump announces 25% tariffs on all steel and aluminium imports

The move threatens to have a big impact in Canada, a major source of the metals in the US.

* The tariffs, which will increase the costs of importing steel and aluminium into the US, come despite warnings of retaliation from Canada and other countries.
* US President Donald Trump claims the move will boost domestic production and simplify trade rules.
* The tariffs are set to take effect on 4 March and will apply to all imports of steel and aluminium, with no exceptions.
* The move is expected to have a significant impact on Canada, which is the largest supplier of aluminium to the US and accounted for over 50% of last year's imports.
* Canadian leaders have denounced the tariffs as "unjustified" and warned of retaliation measures.
* Share prices of major US steel-makers rose in anticipation of the order, but other countries and industries are concerned about the potential consequences.
* The move is seen as part of Trump's broader trade agenda, which includes imposing tariffs on Chinese goods and renegotiating trade agreements with Canada and Mexico.
  >>