Speaking aboard Air Force One en route to the Super Bowl, President Trump stated, "Any steel coming into the United States is going to have a 25% tariff." He further indicated that these new metal tariffs would be officially announced on Monday.
The decision has prompted swift reactions from international partners. The Australian government is actively seeking exemptions from these tariffs, emphasizing the mutual benefits of the U.S.-Australia trade relationship, including employment and defense cooperation. Trade Minister Don Farrell highlighted that Australian steel and aluminium exports to the U.S. create thousands of American jobs and are vital for shared defense interests.
In Europe, the announcement has raised concerns about potential retaliatory measures. The European Union has previously indicated that it would respond to U.S. tariffs with countermeasures, aiming to protect its economic interests. Economists warn that such actions could escalate into a broader trade conflict, potentially impacting global markets.
This policy shift follows earlier trade measures by the Trump administration. In 2018, similar tariffs were imposed, which were maintained with some exceptions by subsequent administrations. The current decision reinstates and expands these tariffs, reflecting the administration's commitment to protecting domestic industries.