The United States will move ahead with new trade penalties on steel and aluminum imports, with President Donald Trump confirming that a 25% tariff will be applied to all foreign shipments of the metals. The move, announced Sunday, affects major suppliers such as Canada and Mexico.
During a conversation with reporters on Air Force One, Trump made it clear that his administration would no longer tolerate what he calls unfair trade imbalances. “If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” he said.
Trump previously delayed imposing tariffs on imports from Canada and Mexico but has now reversed course. The tariffs, along with a separate 10% duty on goods from China, signal a more aggressive approach to international trade policy.
Financial markets reacted quickly to the announcement. U.S. steelmakers saw stock prices surge before Monday’s opening bell, with Cleveland-Cliffs gaining 8%, U.S. Steel rising 5%, and Steel Dynamics increasing by over 6%. Investors anticipate that domestic steel producers will benefit from the new trade protections.
The tariffs have already prompted reactions from global trade partners. South Korea’s government held an emergency meeting to discuss the potential economic fallout. The country shipped approximately $4.8 billion worth of steel to the U.S. last year, accounting for a significant portion of its total steel exports.
Trump has also confirmed that additional trade penalties are on the way, with details on reciprocal tariffs expected later this week. These new measures could further reshape the international trade landscape as the administration takes a tougher stance on trade.
Financial markets shrugged off concerns, while analysts warned that the tariffs could trigger retaliatory measures from U.S. trading partners.
Meanwhile, the White House has yet to release full details on the implementation of the tariffs, but Trump’s message was clear: The U.S. will no longer allow one-sided trade policies to undermine American industry.
