Connect with us

Economy

Trump imposes tariffs on steel imports

25% tariff on steel and aluminium imports

Published

on

President Donald Trump of the United States

The United States on Wednesday, March 11, 2025, imposed tariffs on steel and aluminium imports.

The tariffs have taken effect in a move that will likely escalate tensions with some of America’s largest trading partners.

It sparked an immediate response from the European Union.

The European Union said it will impose counter tariffs on billions of euros of US goods.

Trump hopes the tariffs will boost US steel and aluminium production.

But critics say it will raise prices for US consumers and dent economic growth.

US markets sunk on Monday and Tuesday in response to recession fears.

On Tuesday, Trump u-turned on doubling the tariffs on Canada specifically in response to a surcharge Ontario placed on electricity.

The tariffs mean that US businesses wanting to bring steel and aluminium into the country will have to pay a 25% tax on them.

The EU announced retaliatory tariffs on Wednesday in response on goods worth €26bn (£22bn).

They will be partially introduced 1 April and fully in place on 13 April.

European Union President Ursula von der Leyen said she “deeply regrets this measure.”

She added that tariffs are “bad for business and worse for consumers”.

“They are disrupting supply chains. They bring uncertainty for the economy.

“Jobs are at stake, prices up, nobody needs that, on both sides, neither in the EU or the US.”

She said the EU’s response was “strong but proportionate” and that the EU remains “open to negotiations”.

However, the American Iron and Steel Institute (AISI), a group representing US steelmakers, welcomed the tariffs.

See also  Air Peace evacuates 78 trafficked Nigerian ladies from Ivory Coast

It said they will create jobs and boost domestic steel manufacturing.

The group’s president Kevin Dempsey said the move closed a system of exemptions, exclusions and quotas.

These allowed foreign producers to avoid tariffs.

Dempsey added that the AISI applauds the president’s actions to restore the integrity of the tariffs on steel.

It also applauds the implementation of a robust and reinvigorated program to address unfair trade practices.

The US is a major importer of aluminium and steeel, and Canada, Mexico and Brazil are among its largest suppliers of the metals.

Other countries also responded immediately to the move.

Trade Secretary Jonathan Reynolds said he was disappointed and “all options were on the table” to respond in the national interest.

Australia’s Prime Minister, Anthony Albanese, said the Trump administration’s decision to go ahead with the new tariffs is “entirely unjustified”.

Albanese, who had been trying to secure an exemption to the tariffs, said Australia will not be imposing retaliatory duties.

Albanese said such a move would only drive up prices for Australian consumers.

Meanwhile, Canada’s Energy Minister, Jonathan Wilkinson, told CNN his country would retaliate.

However, he added that Canada is not looking to escalate tensions.

Canada, is one of America’s closest trade partners, and the largest exporter of steel and aluminium to the US.

In 2018, during his first term as president, Trump imposed import tariffs of 25% on steel and 10% on aluminium.

But carve-outs were eventually negotiated for many countries.

This time the Trump administration has signalled that there will be no exemptions.

See also  Trade war: Stop misleading public on trade talks—China slams US

Gareth Stace, director general at industry body UK Steel, said the US move was “hugely disappointing”.

 


For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest from DDM TV

Latest Updates

INNOSON VEHICLE MANUFACTURING

Obi Calls Emergency X Space, Warns of National Collapse

2027 Imo Guber – Ohakim under intense pressure to Re- contest

Why Killer herdsmen terrorize Imo bushes

Man Impregnates Maid, Wife Aborts Baby, Both Jailed!

A Silent Storm Brews in Uganda – The Man Who Would Not Leave

Why Gunmen kill Security Personnels in Imo state

Buhari’s Ex-Aide Blasts Obidient Movement, Calls It Nigeria’s Most Toxic Political Group

Why Gun men kidnap Catholic Priests in Imo state

‘Baseless Lie’–Sudan Blasts US Over Chemical Weapons Claims

Ceasefire Signed, But Trust Is Missing

Subscribe to DDM Newsletter for Latest News