'This is a big deal': US levies 25% tariffs on all steel and aluminium imports

'This is a big deal': US levies 25% tariffs on all steel and aluminium imports
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'This is a big deal': US levies 25% tariffs on all steel and aluminium imports
Published: Feb, 11 2025 02:13

Summary at a Glance

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Donald Trump has signed two proclamations imposing 25% tariffs on all steel and aluminium imports to the US.

Outside economic analyses suggest the tariffs would increase costs for the factories that use steel and aluminium, possibly leaving US manufacturers worse off.

But nothing comes for free, and even if Donald Trump's tariffs succeed in persuading domestic producers to smelt more aluminium or steel, such things don't happen overnight.

The tariffs are part of an aggressive push by Mr Trump to reset global trade, as he claims that price hikes on the people and companies buying foreign-made products will ultimately strengthen domestic manufacturing.

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