U.S. President Donald Trump has officially raised tariffs on all steel and aluminum imports to 25pct, ending country exemptions and phasing out product exclusions. The move, which expands the original 2018 tariffs, has triggered retaliatory measures from Canada and the European Union.
Since 2018, the U.S. has maintained a 25pct tariff on steel and a 10pct tariff on aluminum under Section 232. In 2020, these tariffs were extended to certain derivative products, including nails, car body parts, and bumper stampings for steel, as well as wires and bumper stampings for aluminum. The latest action eliminates exemptions for imports from Argentina, Australia, Brazil, Canada, the EU, Japan, Mexico, South Korea, Ukraine, and the UK, subjecting them to the 25pct tariff starting March 12, 2025.
Additionally, Trump plans to impose reciprocal tariffs on imports from the EU, Brazil, and South Korea, effective April 2.
In response, Canada has announced retaliatory tariffs on USD 20.1 bln worth of U.S. goods, including steel and aluminum, while the EU is preparing countermeasures on up to USD 28 bln worth of American imports.
