{"id":16483,"date":"2025-02-10T23:08:15","date_gmt":"2025-02-10T23:08:15","guid":{"rendered":"https:\/\/financialrush.com\/?p=16483"},"modified":"2025-02-10T23:08:15","modified_gmt":"2025-02-10T23:08:15","slug":"donald-trump-to-hit-us-steel-and-aluminium-imports-with-25-tariffs","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=16483","title":{"rendered":"Donald Trump to hit US steel and aluminium imports with 25% tariffs"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what the 2024 US election means for Washington and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=12b16867-4e0e-4534-8a00-922665e680aa&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump says he will impose tariffs of 25 per cent on all steel and aluminium imports into the US, threatening to unleash turmoil in commodity markets and ignite trade wars across the global economy.<\/p>\n<p>US officials said the tariffs were a response to \u201cforeign players\u201d who were responsible for \u201csurging exports\u201d of the metals to the country and \u201cundermining US producers of steel and aluminium\u201d.<\/p>\n<p><a href=\"https:\/\/www.ft.com\/donald-trump\" data-trackable=\"link\">Trump<\/a> officials said the tariffs would apply to all US imports, and that no exclusions would be granted for particular products. The tariffs would begin on March 4, according to one person familiar with the plan.<\/p>\n<p>Although the move is designed to protect domestic steelmakers, they will probably affect US allies \u2014 including Canada and Mexico \u2014 and could sharply raise costs for any American manufacturers that import the metals.<\/p>\n<p>The US president\u2019s <a href=\"https:\/\/www.ft.com\/trump-tariffs\" data-trackable=\"link\">tariff announcement<\/a> comes three weeks after his return to the White House and marks an escalation of his protectionist agenda. It follows his announcement of new levies on the US\u2019s two closest trading partners, Mexico and Canada. Those are due to take effect at the start of March.<\/p>\n<p>Trump also said he intended to impose reciprocal tariffs on countries that had levies on US goods within the coming days. <\/p>\n<p>The US president imposed tariffs of 25 per cent on all steel imports and 10 per cent on aluminium imports in 2018, during his previous trade war, before negotiating carve-outs for some countries.<\/p>\n<p>Joe Biden, who inherited Trump\u2019s metals tariffs when he came to office in 2020, struck deals with the EU, UK and Japan that allowed them to export a certain amount of their steel and aluminium to the US duty-free.<\/p>\n<p>On Monday, US officials said those agreements would in effect all be nullified, and tariffs would be put on all steel and aluminium imports from all countries. <\/p>\n<p>Officials also said Trump would eliminate the product exclusion process, calling it a \u201cloophole\u201d. <\/p>\n<p>\u201cWe had a product exclusion process that got completely out of control in the Biden years and there have been literally hundreds of thousands of exclusions approved, and millions of metric tons of steel and aluminium as a result have not been properly tariffed,\u201d said a White House official. <\/p>\n<p>\u201cPresident Trump is hereby ending the product-exclusion process,\u201d the official added.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"1902feb4-9c1c-4c90-ba6b-235e89fda784\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/1902feb4-9c1c-4c90-ba6b-235e89fda784\" data-trackable=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2048\/1152\"><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>The latest directive risks triggering immediate retaliation from the EU, which responded to Trump\u2019s tariffs in 2018 by imposing levies of its own on \u20ac2.8bn worth of US goods, including bourbon and Harley-Davidson motorcycles.<\/p>\n<p>The EU lifted those tariffs as part of the Biden-brokered agreement in 2021.<\/p>\n<p><a href=\"https:\/\/www.ft.com\/content\/9d48a9d1-d699-4dbb-9978-77b81157db20\" data-trackable=\"link\">Metals prices rose<\/a> in the US on Monday ahead of Trump\u2019s announcement as traders moved to secure supplies, with a closely watched contract for aluminium up about 10 per cent and the premium for US copper futures over those in London hitting their highest level since 2020.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/12b16867-4e0e-4534-8a00-922665e680aa\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for&hellip;\n","protected":false},"author":6,"featured_media":16484,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-16483","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/16483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16483"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/16483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/16484"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}