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HomeMarket NewsTrump Tariffs Live Updates: Countries brace as trade levies set to come into effect
Trump Tariffs Live Updates: US President Donald Trump said he will impose 25% tariffs on all steel and aluminum imports, including from allies like Canada and Mexico, starting Monday. He also plans reciprocal tariffs to match other countries’ rates, potentially escalating global trade tensions and retaliation.
US President Trump announced on Sunday that he will impose a 25% tariff on all foreign steel and aluminum imports starting Monday, including from allies like Canada and Mexico. He also plans to introduce reciprocal tariffs later this week to match what other countries charge on US exports. This move, part of his broader trade agenda, follows previous tariff increases on Chinese goods and threats targeting Europe, Taiwan, and industries like pharmaceuticals and semiconductors.
The European Union has called the tariffs "unlawful" and threatened retaliatory measures against the United States.
The tariffs, which could escalate trade tensions and invite retaliation, will affect major steel and aluminum suppliers like Canada, Brazil, Mexico, and South Korea. Trump’s earlier steel and aluminum tariffs during his first term strained relations with allies, though some restrictions were later eased under the Biden administration. It remains unclear if the new tariffs will add to existing ones. The president plans to announce the reciprocal tariffs midweek, stating, “If they charge us, we charge them.”
