President Donald Trump announced on Sunday that he will impose 25% tariffs on all steel and aluminum imports into the United States, including those from Canada and Mexico. This move marks another significant escalation in his ongoing trade policy overhaul.
President Donald Trump announced on Sunday that he will impose a 25% tariff on all steel and aluminum imports into the United States, including those from Canada and Mexico . This move marks another significant escalation in his ongoing trade policy overhaul. Speaking aboard Air Force One as he traveled from Florida to New Orleans for the Super Bowl, Trump stated that the new tariffs would be implemented on top of existing metal duties.
'Any steel coming into the United States is going to have a 25% tariff,' Trump told reporters. When questioned about aluminum, he affirmed, 'aluminum, too' will be subject to these trade penalties. Japanese steelmakers saw their share prices decline by approximately 1% following this announcement. Trump further revealed his intention to announce reciprocal tariffs on Tuesday or Wednesday, with immediate implementation. These tariffs will be applied to all countries and will mirror the tariff rates levied by each nation. 'And very simply, it's, if they charge us, we charge them,' Trump explained regarding his reciprocal tariff plan. Prior to this announcement, Trump had threatened 25% import taxes on all goods from Canada and Mexico, although he subsequently paused these for 30 days last week. At the same time, he proceeded to impose a 10% duty on imports from China. Last week, Trump also indicated that tariffs on the European Union would be implemented 'pretty soon.' When asked about the United Kingdom, the president stated that Britain was 'out of line' in terms of trade but believed the situation could be resolved 'without the use of tariffs.' These recent comments from Trump on Air Force One came shortly after German Chancellor Olaf Scholz stated that the EU was prepared to respond 'within an hour' if the US imposed tariffs on European goods, emphasizing the potential risks of escalating trade war. China's retaliatory tariffs on certain US exports are scheduled to take effect on Monday, with no indication of progress in negotiations between Beijing and Washington.On Air Force One, Trump also signed a proclamation designating February 9, 2025, as the first-ever 'Gulf of America' day. One of the initial executive orders Trump signed was renaming the Gulf of Mexico. During the signing of this latest proclamation, he posed in front of a map displaying the newly changed name. In a separate interview earlier on Fox News, Trump reiterated his calls to make Canada 'the 51st state' as he reaffirmed his support for tech billionaire Elon Musk. When asked if he was serious about Canada becoming a 51st state, Trump responded, 'I think Canada would be much better off. 'We lose $200bn a year with Canada. And I'm not going to let that happen. It's too much. 'Why are we paying $200bn a year essentially in subsidy to Canada? Now, if they are a 51st state, I don't mind doing it.' He continued to express his support for Musk. The X owner is spearheading Trump's efforts to reduce costs and bureaucracy within the government, which has already targeted the US Agency for International Development.Dubbed the Department of Government Efficiency (DOGE), its objective is to identify ways to dismiss federal employees, eliminate programs, and reduce federal regulations. However, there have been suggestions that Musk's access to government systems could pose a threat to national security. Nonetheless, Trump asserts that he trusts Musk and intends to task him with investigating billions of dollars of alleged 'fraud and abuse' within the US military. 'I've had great help with Elon Musk. He's been terrific,' Trump stated
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