Former President Donald Trump has declared his intention to impose a 25% tariff on all steel and aluminium imports into the United States, including those from Canada and Mexico.
The announcement, expected on Monday, marks a significant escalation in his aggressive trade policy approach.
Speaking aboard Air Force One while en route from Florida to New Orleans for the Super Bowl, Trump stated that these new levies would be in addition to existing tariffs on metals.
“Any steel coming into the United States is going to have a 25% tariff,” he told reporters. When asked about aluminium, he confirmed, “Aluminum, too.”
Global Reactions and Reciprocal Tariffs
The news sent shockwaves through global markets, with shares in Asian steelmakers falling—except for those with operations in the US.
Trump also revealed plans to introduce reciprocal tariffs as early as Tuesday or Wednesday, targeting all countries that impose tariffs on US goods. “Very simply, if they charge us, we charge them,” he said.
Meanwhile, Australia is lobbying for an exemption, with Trade Minister Don Farrell emphasizing that Australian steel and aluminium contribute to “thousands of good-paying American jobs” and are vital to shared defence interests.
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Trump’s latest tariff threats come just days after he suggested implementing duties on European Union imports “pretty soon.”
🔊"Air Force One is currently in international waters, the first time in history flying over the recently renamed Gulf of America." 🇺🇸 pic.twitter.com/XHXXrvtYzf
— The White House (@WhiteHouse) February 9, 2025
German Chancellor Olaf Scholz has warned that the EU is prepared to respond “within an hour” if the US follows through, raising the spectre of a full-blown trade war. China, already embroiled in economic tensions with the US, is set to impose its own retaliatory tariffs on American exports starting Monday.
Trump’s Controversial Remarks on Canada and Elon Musk
Trump reignited the controversy in a separate development by suggesting Canada should become “the 51st state.” In an interview with Fox News, he claimed the US loses $200 billion a year in trade with Canada, arguing, “If they are a 51st state, I don’t mind doing it.”
Additionally, Trump doubled down on his support for tech billionaire Elon Musk, who is leading efforts to streamline the federal government. Under Musk’s initiative—dubbed the Department of Government Efficiency (DOGE)—the administration aims to cut costs, eliminate bureaucracy, and reduce federal regulations.
As tensions mount on multiple fronts, Trump’s latest economic manoeuvres signal a dramatic shift in US trade policy that could have far-reaching consequences for global markets and diplomatic relations.
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