US President Donald Trump announced that starting Monday, the United States will impose a 25% tariff on all steel and aluminum imports, including from its neighbors, Canada and Mexico. The move also includes additional import duties, which Trump hinted would be disclosed later in the week.
Speaking to reporters aboard Air Force One while en route to New Orleans for the Super Bowl, Trump stated, “Any steel coming into the United States is going to have a 25 percent tariff.” He confirmed that aluminum imports would be subject to similar penalties, saying, “Aluminum, too.”
The announcement is part of Trump’s broader plan to implement “reciprocal tariffs”—additional duties that the US would apply on foreign goods in response to tariffs imposed by other countries. Trump explained, “If they are charging us 130 percent and we’re charging them nothing, it’s not going to stay that way.” He noted that these tariffs would likely be introduced by Tuesday or Wednesday.
Trump’s new tariff strategy reflects his ongoing use of trade penalties not only as a bargaining tool but also as a way to generate revenue to address the US government’s budget deficit. This shift in focus marks a departure from the earlier years of his presidency, where tax cuts and deregulation took center stage.
The tariff announcement has caused a negative reaction in financial markets. Stock prices fell following Trump’s statement, while consumer sentiment also dipped, with many expressing concerns over the potential inflationary impact of these tariffs. The Associated Press reported that some Americans worry the duties will drive up prices on goods.
Though Trump did not provide specific details on the steel, aluminum, or reciprocal tariffs, he did mention that he had previously delayed a 25% tariff on all goods from Canada and Mexico. This delay was set to last 30 days and had been announced just over a week ago.
In addition to the tariffs on steel and aluminum, Trump has already imposed a 10% tariff on imports from China. On Friday, he also revealed that tariffs on small packages—typically imported by fast-fashion companies like Temu and Shein—would be postponed until customs authorities can determine how to implement them. Previously, small shipments had been exempt from tariffs.
As these measures unfold, it remains to be seen how they will affect global trade dynamics and the US economy in the long term.
