United States President Donald Trump has announced plans to impose 25 percent tariffs on all steel and aluminium imports, and reciprocal tariffs on countries levelling duties on US goods.
Trump said on Sunday that he would formally announce the tariffs on steel and aluminium the following day, and the countervailing levies later in the week.
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U.S. President Donald Trump said on Sunday that he will announce new 25-percent tariffs on all steel and aluminum imports into the United States, with the official statement to be made on Monday.
ReplyDeleteSpeaking to reporters on Air Force One, Trump also said he would announce "reciprocal tariffs" as soon as Tuesday to align with those of its trading partners.
During his first term, Trump imposed tariffs of 25 percent on steel and 10 percent on aluminum imports citing national security concerns but later allowed certain trading partners, including Canada, Mexico and Brazil, to receive duty-free quotas.
Under former President Joe Biden, the United States continued some tariff exemptions introduced under Trump and extended new quotas for the European Union, Britain and Japan.