[Ferro-Alloys.com] U.S. President Donald Trump said on Sunday that he will announce on Monday new 25% tariffs on all steel and aluminum imports into the U.S., which would come on top of existing metals duties in another major escalation of his trade policy overhaul.

Trump, speaking to reporters on Air Force One, on his way to the NFL Super Bowl in New Orleans, also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately.

He said the U.S. would match tariff rates levied by other countries and that this would apply to all countries.

“And very simply, it’s, if they charge us, we charge them,” Trump said of the reciprocal tariff plan.

Trump, during his first term, imposed tariffs of 25% on steel and 10% on aluminum but later granted several trading partners duty-free quotas, including Canada, Mexico, and Brazil.

Former President Joe Biden extended these quotas to Britain, Japan and the European Union, and U.S. steel mill capacity utilization has dropped in recent years.

According to government and American Iron and Steel Institute data, the largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam.

By a large margin, Canada is the largest supplier of primary aluminum metal to the United States, accounting for 79% of total imports in the first 11 months of 2024. Mexico is a major supplier of aluminum scrap and aluminum alloy.

Matching rates

Trump said he would hold a news conference on Tuesday or Wednesday to provide detailed information on the reciprocal tariff plan, adding that he first revealed on Friday that he was planning reciprocal tariffs to ensure “that we’re treated evenly with other countries.” The new U.S. president has long complained about the EU’s 10% tariffs on auto imports being much higher than the U.S. car rate of 2.5%. He frequently states that Europe “won’t take our cars” but ships millions west across the Atlantic every year.

The U.S., however, enjoys a 25% tariff on pickup trucks, a vital source of profits for Detroit automakers General Motors, Ford and Stellantis’ U.S. operations.

The U.S. trade-weighted average tariff rate is about 2.2%, according to World Trade Organization data, compared to 12% for India, 6.7% for Brazil, 5.1% for Vietnam and 2.7% for European Union countries.

PUBLISHED SUN, FEB 9 20256:10 PM EST Reuters

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WASHINGTON (AP) — President Donald Trump said he will announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week.

“Any steel coming into the United States is going to have a 25% tariff,” he told reporters Sunday on Air Force One as he flew from Florida to New Orleans to attend the Super Bowl. When asked about aluminum, he responded, “aluminum, too” will be subject to the trade penalties.

Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday” — meaning that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods.

“If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” he told reporters.

Trump’s comments are the latest example of his willingness to threaten, and in some cases to impose, import taxes. Tariffs are coming much earlier in his presidency than during his previous four years in the White House, when he prioritized tax cuts and deregulation. Trump has alternately said he sees import taxes as tools to force concessions on issues such as immigration, but also as a source of revenue to help close the government’s budget deficit.

• [Editor:tianyawei]