94Ha Viewpoint
U.S. President Trump said that he will announce a 25% tariff on all imported steel and aluminum products on Monday (February 10th) local time. This move will further intensify his overall adjustment of U.S. trade policy and increase the existing metal tariffs.
Reuters reported that Trump told reporters on Air Force One on Sunday (9th) that in addition to this measure, he will also announce reciprocal tariffs on February 11 or 12, which are planned to take effect immediately.
During his first term, Trump imposed a 25% tariff on steel and a 10% tariff on aluminum products, but later provided tariff-free quotas to several trading partners, including Canada, Mexico and Brazil. Former President Biden continued this policy and expanded the duty-free quotas to the United Kingdom, Japan and the European Union.
Yet despite these measures, capacity utilization at U.S. steel mills has declined in recent years.
White House spokesman Levitt said the new tariffs would be imposed in addition to existing steel and aluminum tariffs.
Australian Prime Minister Albanese said on Monday he would urge the United States to exempt it from steel tariffs.
In addition, Trump announced on February 7 that reciprocal tariffs would be imposed on several countries this week, that is, by raising the US tariff rate, equal treatment in trade with other countries would be achieved. The specific list of countries has not yet been announced.
