US President Donald Trump announced on Sunday that he would impose 25% new tariffs on imported steel and aluminum in addition to existing tariffs. According to Reuters, Trump’s decision is a significant shift in trade policy.
Trump said of the retaliatory tariffs: “If they’re charging us, we’re charging them.”
Canada, Brazil, and Mexico are the largest sources of US steel imports, followed by South Korea and Vietnam.
Canada, rich in hydroelectric power, is the largest supplier of US aluminum, accounting for 79% of total aluminum imports in the first 11 months of 2024.
