U.S. President Donald Trump announced plans to impose a 25% tariff on all steel and aluminum imports, escalating global trade tensions ahead of the 2024 election. The move, first revealed during an in-flight press chat en route to the Super Bowl , targets major suppliers like Canada, Brazil, Mexico, and South Korea.
Reciprocal Tariffs: 'If They Charge Us, We Charge Them'
Trump teased additional 'mirror' tariffs set to roll out this week, vowing to match other nations' rates. 'It’s simple—no free passes,' he told reporters. Canada, which supplies 79% of U.S. aluminum imports, fired back on X: 'Our metals build American cars and ships. We'll defend our workers,' pledged Innovation Minister François-Philippe Champagne.
Nippon Steel Deal Faces Limits
While allowing Japan’s Nippon Steel to invest in U.S. Steel, Trump insisted the company can’t secure a majority stake. 'Tariffs will revive American steel,' he claimed, despite market uncertainty.
Trade Policy Déjà Vu?
This mirrors Trump’s 2018 tariffs, which Biden later adjusted with exemptions for allies. February's earlier tariffs on Canada and Mexico sparked retaliatory measures before a temporary pause. Analysts warn these new levies could destabilize supply chains ahead of election season.
, targets major suppliers like Canada, Brazil, Mexico, and South Korea.
Trump's Tariff Tensions: 'Liberation Day' or…
