US President Donald Trump signed an executive order on Monday evening local time, imposing a 25% tariff on steel and aluminium imports.
Following tariffs on products from Canada, Mexico, and China, this marks a new chapter in Trump’s evolving trade conflict.
Trump said on Monday evening at the White House that he was "simplifying" the import tariffs on steel and aluminium, that all such imports would be taxed at 25%, and that there would be no exceptions or exemptions. The tariff, he said, applies to all countries.
Australian Prime Minister Anthony Albanese had previously stated that Trump was considering an exception for Australian steel. Albanese claimed the two leaders had agreed on this during a phone call, but a White House spokesperson clarified that no exceptions are being made.
The tariffs are another blow to Canada and Mexico, which supply the majority of the metal imports to the United States. Trump had already hit them with tariffs on other imported products. Additionally, US businesses that use metals in their production, such as in the automotive sector, will be heavily affected by the new measure.
In 2018, Trump had announced 10% import tariffs on aluminium and steel.
US metal producers have long lobbied for protectionist measures.
