Trump Announces 25% Tariffs On All Imported Steel And Aluminum, Including From Canada And Mexico
President Donald Trump confirmed Sunday that his administration will impose 25% tariffs on all steel and aluminum imports, including those from Canada and Mexico. Speaking aboard Air Force One, Trump made it clear that the tariffs would apply to all foreign steel and aluminum entering the United States.
“Any steel coming into the United States is going to have a 25% tariff,” Trump said. When asked about aluminum, he added, “Aluminum, too.” The announcement comes as part of Trump’s broader trade strategy, which includes plans for additional import duties on countries that impose tariffs on American goods.
The move marks a return to Trump’s first-term trade policies, when he imposed similar tariffs before negotiating agreements with Canada and Mexico to remove them. This time, however, the tariffs will apply more broadly, with Trump stating that he will also introduce “reciprocal tariffs” on products from countries that impose higher duties on U.S. goods.
Financial markets reacted immediately, with U.S. steel companies seeing a surge in stock value. Cleveland-Cliffs jumped 8% in pre-market trading, U.S. Steel rose 5%, and Nucor climbed nearly 8%.
The announcement has raised concerns among international trading partners. South Korea’s acting president called an emergency meeting to assess the impact, as steel exports to the U.S. make up a significant portion of the country’s trade. The new tariffs come after Trump had previously delayed similar measures for 30 days.
While Trump did not provide further details on the rollout of these tariffs, he indicated that more trade measures would be announced in the coming days. He suggested that additional import duties could be finalized by midweek.
