TRADE TARIFFS
Trump announces 25% tariffs on aluminum and steel imported into the US starting in March
The president also announced that he will tax products from countries that charge Americans to cross their borders.
Steel forge.
Donald Trump announced last Monday that he will impose tariffs of 25% on steel and aluminum imports starting March 12 “without exceptions or exemptions.” The president further noted that he has “reciprocal tariffs” ready to tax the entry of products from countries that charge Americans to cross their border.
“All steel coming into the United States will have 25% tariffs,” the president announced from Air Force One on Sunday afternoon, before his arrival in New Orleans to attend the Super Bowl. Trump added that the same tariffs will apply to aluminum imports.
Trump mulls additional tariffs on cars, pharmaceuticals, computer chips
Less than 24 hours later, the president confirmed the move, although he delayed the implementation of the measure to March, originally set for Monday. Trump justified the move by pointing out that foreign purchases of these products “threaten to disrupt national security.”
The president also said that he is weighing the imposition of additional tariffs on cars, pharmaceuticals and computer chips arriving from abroad.
‘Those who benefit from the United States will be returned the favor’
The U.S. president also anticipated that he will announce "Tuesday or Wednesday" the "reciprocal tariffs" with which he seeks to align customs duties on products entering the United States. "If they tax us 130% and we don't, that won't continue. That will not affect all countries, those that benefit from the United States will be returned the favor," he said.
The U.S. president also announced that he will unveil the "reciprocal tariffs" on "Tuesday or Wednesday," aimed at aligning customs duties on products entering the United States. "If they tax us at 130% and we don't, that won't continue. This won't affect all countries, but those who benefit from the United States will have the favor returned," he stated.
Trump imposed similar tariffs during his 2017-2021 presidency to protect American companies. Canada is the largest supplier of steel and aluminum to the United States, according to official data, while Brazil, Mexico and South Korea are also major steel suppliers. The economy of the European Union will also be notably harmed, since 25% of its production of this product is destined for the U.S.
Tariff war with China
In addition, as of Tuesday, products coming from China will have additional tariffs of 10%. Beijing responded with specific tariffs on certain U.S. products beginning Monday.
Europe announces that it will ‘respond’ to the new tariffs
Speaking to French broadcaster TF1, Barrot recalled that they had already done so in the face of a similar measure during Trump's first term and noted that the European Commission had a mandate to act in this regard and that it had "assured" member countries that it would carry it out as soon as possible.
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