Trump to announce new steel, aluminium tariffs today Importers to pay 25 per cent on top of existing steel, aluminium tariffs Fate prior metals tariff exemptions for Mexico,...
US President Donald Trump before the game at the NFL Super Bowl LIX between the Philadelphia Eagles and the Kansas City Chiefs at Caesars Superdome in New Orleans, Louisiana February 9, 2025. — Reuters picas a first-time user .
He also said he will announce reciprocal tariffs tomorrow or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country. Trump also said that while the US government would allow Japan’s Nippon Steel to invest in US Steel, it would not allow this to become a majority stake.
Steel mill capacity usage jumped to levels above 80 per cent in 2019 after Trump’s initial tariffs, but has fallen since then as China’s global dominance of the sector has pushed down steel prices. A Missouri aluminium smelter revived by the tariffs was idled last year by Magnitude 7 Metals. “The Trump administration is threatening to attack the aluminium and steel sectors — sectors where the United States depends largely . Quebec exports 2.9 million tons of aluminium to them, that is, 60 per cent of their needs. Do they prefer to get supplies from China?” Francois Legault, premier of Quebec — a major aluminium supplier, said on X.
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