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US President Donald Trump signs an executive order in the Oval Office of the White House in Washington, US on February 10, 2025. — Reuters
#tariffs #steel #aluminium #imports #effect
WASHINGTON: President Donald Trump’s rise on all US steel and aluminum imports was identified on Wednesday, implementing a major milestone in the US campaign to resolve the global trade principles in favor of the United States.
The president’s decision to promote reservations for US steel and aluminum producers restores 25 % effective global taxes on all metal imports and extends duties to hundreds of metal -made products, nuts and bolts to bulldozer blade and soda.
The European Commission responded almost Immediately immediately, saying it would impose a US $ 26 billion ($ 28 billion) worth of US goods from next month.
Canada, Britain and Australia criticized blanket prices near US allies, in which Canada said, “All options were on the table” to respond to the national interest, said British business and trade secretary Jonathan Rynolds.
Australian Prime Minister Anthony Albaniz said the move “is completely blasphemous […] And against the spirit of the ‘sustainable friendship’ of our two countries, but it rejected the tate for tatte duties.
Albanians told reporters, “Rate and growing trade tensions are a form of economic self -harm and gradual growth and a combination of more inflation. They are paid by consumers.”
The most affected countries of the prices are Canada, the United States, Brazil, Mexico and South Korea are the largest foreign provider of steel and aluminum, who have all enjoyed some of the exemptions or quota levels.
On Tuesday, the run -up of the tariff date came up with some drama when Trump threatened Canada to double up to 50 % duty on its steel and aluminum exports.
But Ontario’s premiere Dougford agreed to suspend 25 % surcharge on electricity exports to the states of Minnesota, Michigan and New York, Trump supported the plans until US prices were eliminated before.
Ford said he would fly to Washington to discuss the US-Mexico-Canada deal with Canadian Finance Minister Dominic Lee Black on Thursday with Commerce Secretary Howard Lotnik and Trump’s other officials to discuss trade.
The incident has already subjected US financial markets to Trump’s widespread tariffs, but has changed Trump’s actual plans to strengthen section 232 national security tariffs on steel and aluminum in 2018 during its first term.
‘Steel Industry is ready to rebuild USA’
A White House spokesman described the US pressure on Canada as “win” for the American public.
The US Customs and Border Protection Agency eliminated imports for duty -free entry under quota arrangements before midnight deadline, saying the ships in a bulletin said that US ports or full taxes would be charged at local time on Tuesday.
The move was welcomed by US steel producers as a restoration of Trump’s original 2018 metals, which has been weakened by the costs of several countries and the costs of quota and thousands of products.
Flip Bell, president of the Steel Manufacturers Association, said in a statement, “By shutting down the tariffs that have been exploited for years, President Trump will once again super charge of the steel industry that is ready to rebuild the United States.”
Bell added, “The revised tariff will ensure that new -paying new jobs to steel makers in the United States can continue to invest and maximize investment, knowing that they will not cope with them in unfair trade ways.”
Most America-Canada trade is free from duty
The US-Canada trade war increased when Prime Minister Justin Trudeau prepared to hand over his successor Mark Carney this week, who won the ruling Liberals leadership last weekend.
On Monday, Carney said he could not talk to Trump unless he took the oath as Prime Minister. Trump once again said on social media that he wants Canada to “become the 51st state of our choice.”
Canadian Minister of Energy Jonathan Wilkinson told Reuters that Canada could implement non -tariff measures, such as banning oil exports to the United States or imposing export duty on minerals if US revenue is intact.
Canada sends about 4 million barrels of raw raw ships to the United States every day through the pipeline, mainly in midwest refineries. He added that Canada’s revenue on US ethanol is also an option.
Under the USMCA Trade Agreement, most of the US-Canada trade is free from duty, which Trump signed in 2020, but continues to complain about Canada’s top tariff rate for dairy products.
Ottawa last week won a one -month recovery for exports, according to USMCA from Trump’s General 25 % tariff, which was a threat against fantasy trafficking.
But in early April, Canada also faced Trump’s mutual prices, which aimed to increase US tariffs to meet other countries’ rates and to counter non -tariff barriers.
Canada, with coffee hydropower resources that have made basic aluminum production more cost -effective than the United States, has developed a commanding position in the US aluminum market, because once Trump’s prices have resurrected American smelly people.
China is the number two of aluminum and aluminum equipment, but is allegedly facing high taxes to counter dumping and subsidies, as Trump has received a new 20 % of the revenue during the last month during fantasy smuggling.
After taking office in January, Hyperfox has inflicted investors, consumers and business confidence in the ways that expert economists can rapidly disturb them, they can lead to US recession.
A small business survey on Tuesday shows the weakening of emotions for the third straight month, which completely eliminated the increase in confidence after Trump’s November 5 election victory, and on Monday, the New York Federal Reserve’s survey showed more about their consumers and their support.
