Trump to slap 25% tariffs on steel and aluminum imports as businesses brace for higher supply costs Latest move could put Canada and Mexico back in conflict with Trump after he delayed previous actions.
President Donald Trump told reporters Sunday that he will formally announce plans for the U.S. to implement tariffs of 25% on imports of steel and aluminum, the first salvo in what could be the beginning of a trade war.
An initial order implementing 25% tariffs on steel and 10% tariffs on aluminum was issued in March of 2018, and expanded to include the European Union, Canada and Mexico in June.
Trump’s initial comments to reporters indicated that this latest round would affect export nations across the board, with no exclusions for America’s neighbors which have already engaged in back-and-forth tariff threats in the few weeks Trump has been in office.
Trump previously ordered that plans for tariffs on all imports from Canada and Mexico be delayed by one month as he seeks to renegotiate the USMCA agreement signed during his first term.
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