US will impose 25% tariff on all steel and aluminium imports: Donald Trump

In the latest escalation of President Donald Trump’s trade policy, the US will impose a 25% tariff on all steel and aluminium imports and other import duties likely to be disclosed later this week.

Speaking to reporters while on his way to the NFL Super Bowl in New Orleans, Trump said he would announce reciprocal tariffs by Feb 11 which would take effect almost effectively.

Reacting to reciprocal tariffs he said, "And very simply, it's, if they charge us, we charge them.”

However, Trump did not clarify on which countries he will impose reciprocal tariffs but he did stress that the US would match tariff rates according to other countries and it will be applied to all the countries.

In his first tenure, Trump imposed a 25% tariff on steel while it was 10% on aluminium. He had, however, granted duty-free quotas to several partners like Canada, Mexico, and Brazil.

Ex-President Joe Biden further extended this to Britain, Japan and the European Union.

According to official data, Canada, Brazil, and Mexico are the largest sources of US steel imports followed by South Korea and Vietnam.

While Canada accounts for the largest supplier of primary aluminium metal to the US with 79% of total imports from Jan-Nov 2024, Mexico is a key supplier of aluminium scrap and aluminium alloy.

Trump mentioned that he would formally announce the detailed information on the reciprocal tariff plan by Feb 11-12.

He earlier said that he was planning reciprocal tariffs to ensure the US is treated evenly with other countries.

President Trump has expressed his issues with the EU’s 10% tariffs on auto imports which is much higher as compared to the American car rate of 2.5%.

He had earlier said that Europe "won't take our cars" but ships millions west across the Atlantic every year.

The US, meanwhile, enjoys a 25% tariff on pickup trucks which is the main source of profits for Detroit automakers General Motors, Ford and Stellantis' US operations.

The United States, however, enjoys a 25% tariff on pickup trucks, a vital source of profits for Detroit automakers General Motors, Ford and Stellantis' US operations.

The US has a trade-weighted average tariff of 2.2%, compared to 12% for India, 6.7% for Brazil, 5.1% for Vietnam, and 2.7% for the EU, according to WTO data.