Islamabad, Feb 10: Former U.S. President Donald Trump has announced plans to impose new 25% tariffs on all steel and aluminum imports, further escalating his trade policy stance. Speaking to reporters aboard Air Force One en route to the Super Bowl in New Orleans, Trump stated that the official announcement would be made on Monday.
Additionally, he revealed plans to implement reciprocal tariffs by midweek, ensuring that the U.S. imposes duties matching those of other countries. “If they charge us, we charge them,” Trump emphasized, reinforcing his commitment to fair trade practices.
Canada, Brazil, and Mexico are the largest suppliers of steel to the U.S., with South Korea and Vietnam also contributing significantly. Canada, in particular, dominates aluminum exports to the U.S., providing 79% of total imports within the first 11 months of 2024. Canadian Innovation Minister Francois-Philippe Champagne expressed concerns over these tariffs, emphasizing the vital role of Canadian steel and aluminum in U.S. industries, including defense, shipbuilding, and automotive manufacturing. “We will continue to defend our workers and industries,” Champagne stated.
Trump also addressed Japan’s Nippon Steel’s investment in U.S. Steel, clarifying that while investments would be permitted, a controlling stake would not be allowed. “Tariffs will revitalize the industry,” he added, expressing confidence in U.S. Steel’s management.
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During his previous term, Trump imposed 25% tariffs on steel and 10% on aluminum but later provided exemptions to key trade partners such as Canada, Mexico, and Brazil. His successor, Joe Biden, negotiated duty-free quota agreements with the UK, EU, and Japan. However, it remains uncertain how these new tariffs will affect existing agreements.
Quebec Premier Francois Legault raised concerns about the potential economic impact, highlighting that Quebec supplies 2.9 million tons of aluminum to the U.S., fulfilling 60% of its demand. “Would they prefer sourcing from China instead?” he questioned, calling for immediate renegotiation of trade agreements rather than waiting for the 2026 review.
Trump is expected to elaborate on his reciprocal tariff policy during a press conference midweek. He has frequently criticized the EU’s 10% auto import tariffs compared to the U.S.’s 2.5%, arguing that Europe benefits disproportionately from trade imbalances.
Furthermore, Trump has expressed dissatisfaction with Canada and Mexico’s efforts to curb drug trafficking and illegal migration. He warned that unless stronger measures are taken by March 1, a 25% tariff on all imports from both nations will be enforced. “It’s not enough; things must change,” he asserted, reinforcing his commitment to border security and trade fairness.
