Donald Trump To Announce 25% Tariffs On Steel And Aluminum Imports

Former President Donald Trump has announced that the U.S. will impose a 25% tariff on all steel and aluminum imports, including those from Canada and Mexico. The decision, set to be officially revealed on Monday, is part of a broader push to implement new trade duties throughout the week.

Speaking to reporters aboard Air Force One on Sunday, Trump confirmed that all incoming steel will face the tariff, adding that aluminum imports will also be subjected to similar penalties. He further indicated plans to introduce "reciprocal tariffs" by midweek, targeting countries that impose higher duties on U.S. goods.

"If they are charging us 130% and we're charging them nothing, it's not going to stay that way," Trump stated.

This move underscores Trump's continued use of import taxes as both a bargaining tool in trade negotiations and a potential revenue source to address the federal deficit. Unlike his previous term, where tax cuts and deregulation were the priority, tariffs are now taking center stage earlier in his presidency.

Financial markets reacted negatively to the news on Friday, with stock prices dropping after Trump's initial tariff announcement. Consumer sentiment also took a hit, with concerns over inflation rising due to the expected impact of the new duties.

While Trump has not yet provided specifics on the steel and aluminum tariffs, he has previously threatened a blanket 25% tax on all Canadian and Mexican imports-though he recently delayed that decision by 30 days. Meanwhile, he has already imposed a 10% tariff on imports from China.

Additionally, Trump stated that tariffs on small packages from fast-fashion retailers like Temu and Shein will be postponed until customs officials establish a method for enforcement. These shipments have previously been exempt from import duties.