Добавить новость
ru24.net
News in English
Февраль
2025
1 2 3 4 5 6 7 8 9 10 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

Trump is set to order new tariffs on steel and aluminum. Here are the top countries that supply America's metal imports.

0
A 25% tariff on aluminum and steel could impact countries that are the US' top trade partners.
  • Trump plans to impose a 25% tariff on steel and aluminum on Monday.
  • Canada, Mexico, and Brazil are key US steel suppliers; Canada, UAE, and Mexico lead in aluminum.
  • The tariffs could lead to higher consumer prices on cars, homebuilding, and household goods.

President Donald Trump is doubling down on his tariff agenda with a possible 25% levy on all steel and aluminum imports — a move that could likely make building construction and car assembly more expensive.

"Any steel coming into the United States is going to have a 25% tariff," Trump told reporters on Sunday, adding the blanket tariff would also apply to aluminum. He said he would formally announce the tariffs on Monday but has yet to clarify when the measures would be imposed.

Census Bureau data showed Canada, Mexico, and Brazil were the main suppliers of steel and iron imports to the US in 2024 by dollar value. Iron can be used to produce steel.

In 2024, Canada, the United Arab Emirates, and Mexico were the main countries for US aluminum and bauxite — a material used to create aluminum — imports by dollar value.

One of Trump's main goals early in his second term has been limiting foreign trade with an eye toward bolstering domestic industries. Many economists have warned that the brunt of tariffs could fall on American consumers.

With a possible tariff on steel and aluminum on the horizon, Americans could expect various consumer goods like pipes and cooking utensils to become more expensive due to lower supply, higher demand, and steeper import costs. The travel and construction industries are also likely to be impacted.

Aluminum is primarily used to manufacture automobiles, airplanes, kitchen appliances, cans, and electrical transmission lines, per the US Geological Survey. Steel is also used in automobile production, as well as in construction for bridges, buildings, and homes.

The proposed metals tariffs come days after a set of new 10% tariffs were implemented on China, which quickly retaliated with a 15% tariff on coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, and some vehicles. Additionally, the White House delayed a 25% tariff on Canada and Mexico after Trump made a deal with the nations' leaders on border protection measures.

Trump's plan for metal tariffs also follows big news in the steel industry. Japan's Nippon Steel announced on February 7. that it will drop its nearly $15 billion acquisition bid for US Steel, ending a yearslong battle over American steel production. Nippon Steel said it would instead "invest heavily" in US Steel.

Still, Trump's new focus on metals tariffs shouldn't come as a surprise. During his first term in office, the president imposed a 25% tariff on steel and a 10% tariff on aluminum. He later granted some duty-free exemptions to top trade partners like Canada, Mexico, and Brazil. It's not clear if he will do the same this time around.

The Trump Administration did not immediately respond to a request for comment.

Read the original article on Business Insider



Moscow.media
Частные объявления сегодня





Rss.plus




Спорт в России и мире

Новости спорта


Новости тенниса
Елена Рыбакина

Обидчица Елены Рыбакиной взяла титул и удивила поступком после триумфа. Фото






"Кукурузник" Ан-2 — сделано в СССР.

«Образование важно, чтобы не оказаться на улице». Раков – о сборах, теннисе и «Локомотиве»

Внезапная подлянка под конец зимы: Вильфанд поведал о неожиданных погодных условиях для россиян в феврале

Ученые выяснили, правда ли женщин привлекают «плохие парни»