Former U.S. President Donald Trump has announced plans to impose a new round of tariffs this week, including a 25% duty on all steel and aluminum imports. The move, part of his broader trade policy agenda, is expected to stir global trade tensions.
Trump also hinted at the introduction of “reciprocal tariffs” targeting nations that currently impose taxes on U.S. imports. However, he did not specify which countries would be affected or if any exemptions would be granted.
Canada and Mexico, two of the U.S.’s largest steel trading partners, are likely to feel the impact of the new tariffs, with Canada being the top supplier of aluminium to the U.S. Canadian officials have warned that the tariffs could severely hurt their economy, while Australia has cautioned that the measures could lead to significant job losses in the U.S.
The announcement signals another escalation in Trump’s trade policies, which have previously provoked retaliatory measures from other countries. Notably, China’s counter-tariffs on U.S. exports took effect today, underscoring the ongoing trade tensions between Washington and Beijing.
