Dynamite News Trump imposes 25% tariff on steel & aluminum imports
US President Donald Trump raised tariff on steel and aluminum imports into US, ending exemptions and duty-free quotas for many countries. Read further on Dynamite News:
Washinton: US President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports.
Trump Ends Exemptions
Trump raised tariff on steel and aluminum imports into US, ending exemptions and duty-free quotas for major countries such as Canada, Mexico, Brazil and other. The move could increase the risk of a multi-front trade war.
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Trump signed proclamations raising the tariff rate on aluminium imports to 25 per cent from 10 per cent that he imposed in his first presidency in 2018, which was continued by former President Joe Biden, resulting American importers shifting to other sources.
'Big Deal'
Trump called the moves 'a big deal.
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"It’s time for our great industries to come back to America," the President said.