President Donald Trump has imposed a 25% tariff on all steel and aluminum imported into the United States, a move aimed at boosting domestic manufacturing but likely to raise prices on industrial and consumer goods.
The tariff applies to all countries, including major suppliers such as Canada, Mexico, and the EU.
Canada, the top supplier of steel and aluminum to the US, was initially expected to face double tariffs but will instead be subject to the same 25% rate as others.
Trump hinted at potentially increasing tariffs further, stating:
“The higher it goes, the more likely it is they’re going to come back and manufacture here.”
Economic and Industry Impact includes:
Higher prices for automobiles, construction materials, appliances, and other goods dependent on steel and aluminum.
Increased costs for US manufacturers that rely on imported metals.
Possible retaliatory tariffs from trading partners, further straining global trade relations.
This move is part of Trump’s broader trade policy strategy, which includes tariffs on Chinese goods and a push to repatriate manufacturing jobs. The question now is how US businesses and international trade partners will respond.