US Announces 25% Tariffs on Steel and Aluminum Imports
President Donald Trump has unveiled plans to impose 25% tariffs on all steel and aluminum imports into the US. This move comes as part of a broader overhaul of trade policy.
Steel Imports
Approximately 25% of steel used in the US is imported, primarily from:
* Mexico and Canada (neighbors)
* Japan, South Korea, and Germany (allies in Asia and Europe)
China, the world's largest steel exporter, sends minimal steel to the US due to existing 25% tariffs imposed in 2018.
Aluminum Imports
The US heavily relies on aluminum imports, with around 50% sourced internationally. The majority originates from:
* Canada (neighbor)
* United Arab Emirates
* China
The US aluminum smelting industry has a small global footprint, with smelter capacity representing only 1.73% of the world total.