Trump imposes 25% tariffs on all aluminum and steel imports
President Trump on Monday said he would be imposing 25% tariffs on all steel and aluminum imports into the United States.
"This is a big deal, the beginning of making America rich again," Mr. Trump said as he signed the tariff orders in the Oval Office. All foreign steel and aluminum imports, regardless of the country of origin, will be subject to the tariffs.
The tariffs will go into effect March 12, a White House official said.
Mr. Trump also said the administration is considering additional tariffs on pharmaceuticals, computer chips and automobiles.
"President Trump's bold actions restores the strength of America's steel and aluminum industries and puts an end to the rampant exploitation and circumvention that has hurt American workers. With these tariffs, the days of foreign nations gaming our trade system are over," a senior administration official said.
But European Union chief Ursula von der Leyen said Tuesday that, "Tariffs are taxes - bad for business, worse for consumers," according to The Associated Press. "Unjustified tariffs on the EU will not go unanswered - they will trigger firm and proportionate countermeasures."
Germany Chancellor Olaf Scholz told Parliament that "if the U.S. leaves us no other choice, then the European Union will react united" but "ultimately, trade wars always cost both sides prosperity." Germany has the EU's largest economy.
Canadian steelmakers warned of "massive" disruption from the tariffs, Agence France-Presse reported, while Britain's steel industry trade group called the tariff plan a "devastating blow."
Over the weekend, speaking on Air Force One on the way to New Orleans to attend the 2025 Super Bowl, Mr. Trump said he would also announce "reciprocal tariffs" on Tuesday or Wednesday, which he said will go into effect immediately. This means that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods.
"If they charge us, we charge them … every country," he said, adding, "If they are charging us 130% and we're charging them nothing, it's not going to stay that way."
During his first term in the White House, Mr. Trump imposed 25% tariffs on steel and 10% on aluminum before granting several trading partners duty-free quotas.
Earlier this month, the president authorized a wave of tariffs on America's three closest trading partners — Mexico, Canada and China. Last week he agreed to a 30-day pause on threats to impose 25% tariffs on imports from Mexico and Canada, with another 10% tariff on Canadian oil, natural gas and electricity.
Mr. Trump, an avowed advocate of tariffs, says they are necessary to ensure greater cooperation from the countries to stop illegal immigration and prevent fentanyl smuggling, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government.
