Donald Trump said that he would announce the new 25% tariffs on all steel and aluminum imports in the United States on Monday, including their largest trading partners of Canada and Mexico, in the second election of the overhaul of his trade policy.
Trump’s previous announcement came as Chinese retaliation, announced last week, entered into force. Measures target $ 14 billion products with 15% tariff on coal and LNG, and 10% on raw oil, agricultural equipment and some vehicles.
The US president, who speaks of journalists on the air force on Sunday, has also announced reciprocal tariffs – raising American tariff rates to match trade partners – on Tuesday or Wednesday, which would come into force “almost immediately.” “And very simply, if we charge, we charge them,” Trump told the reciprocal tariff plan.
Shift to steel and aluminum brought a quick reaction from Doug Ford, the Prime Minister of the Canadian Province of Ontario, who accused the US presidents “Switching goals and permanent chaos “which would take the economy at risk.
Monday tariffs would be at the top of the existing metal tasks.
The largest sources of American imports of steels are Canada, Brazil and Mexico, followed by South Korea and Vietnam, according to the Government and the American and Steel and Steel Institute.
Vela Margin, Canada is the largest supplier of the primary aluminum metal of the US, making 79% of total imports in the first 11 months of 2024. Years. Mexico is the main supplier of aluminum waste and aluminum alloys.
During the first expression, Trump imposed 25% on steel and 10% on aluminum, but later approved several trading partners, including Canada, Mexico and Brazil.
Joe Biden has expanded these quotas to Britain, Japan and the European Union, and the American Steel Glodal Capacition has fallen in recent years. White House spokesman Karolina Leavitt said that new tariffs will approach the top of the existing duties on steel and aluminum.
Trump’s tariff’s collection is widely criticized and encouraged by volatile market reactions and fear of more to come. Beijing has appealed the World Trade Organization, but otherwise it was muffled in their response. The tariffs that Trump imposed far below the levels threatened during the election campaign, and the analysts said that China was prepared for them.
Beijing’s actions – which include investigations in several US companies, including Google – Analysts have seen as measured and permissible negotiation rooms.
In the middle of a broader return on Trump’s Economic Hand, French President Emmanuel Macron warned in an interview on Sunday that he was willing to go to the Tariff with the American President. “I’ve already done that, and I’ll do it again (sic).”
Macron said CNN that the EU should not be “top priority” for the United States, saying: “Is the European Union your first problem? No, I don’t think so. Your first problem is China, so you should focus on the first problem. “
Macron said the tariffs would harm European economies, but also the USA, given the level of economic ties. “This means that if you put tariffs on a lot of sectors, you will increase costs and create inflation in the USA. Is that what your people want? I’m not very sure,” he said.
He said that the EU must be ready to react to American actions, but it stressed that the 27-Nation block should mainly “act for themselves”. “Therefore, for me, the main priority of Europe is the agenda of competitiveness, is it a defensive and security agenda, and ambition, and we are going quickly for ourselves.
“If in the meantime, we have (a) the tariff question, we will talk about them and we will fix it.”
Trump has long regretted 10% of the EU tariff on auto imports to be much higher than US car from 2.5%. He often states that Europe “will not take our cars”, but each year brod millions west across the Atlantic.
Trump also marked the tariffs against Taiwan’s semiconductor industry – for which he is repeatedly and without evidence of the accused of theft of American business. Taiwan seems to be now hiding to prevent it from happening. This week senior economic officials will fly to the United States to meet their colleagues. Taiwan’s state-owned company and the state oil company allegedly undertake steps to quite more American gas and oil to reduce the taiy trade surplus – a key factor that leads Trump in the decoration of the tariff.
With reuters
2025-02-10 04:57:00
