New Tariffs to Be Announced as US Prepares Reciprocal Measures Against Other Countries

US President Donald Trump revealed that he will impose new 25% tariffs on all steel and aluminium imports, marking another escalation in his ongoing trade policy overhaul. The announcement, set for Monday (Feb 9), will build on existing duties on metals, further intensifying the US’s trade stance.

Speaking to reporters aboard Air Force One en route to the NFL Super Bowl in New Orleans, Trump also confirmed plans for reciprocal tariffs. These tariffs will be enacted almost immediately, likely on Tuesday or Wednesday, and will match tariff rates imposed by other countries on US goods. “If they charge us, we charge them,” Trump explained, asserting a policy of fairness.

During his first term, Trump introduced 25% tariffs on steel and 10% on aluminium but allowed certain countries, including Canada, Mexico, and Brazil, duty-free quotas. Former President Joe Biden extended these quotas to the European Union, Japan, and Britain, which has contributed to a decline in US steel mill capacity utilisation.

Steel imports to the US are largely sourced from Canada, Brazil, and Mexico, with South Korea and Vietnam also significant suppliers. Canada is by far the largest supplier of primary aluminium, while Mexico remains a key provider of aluminium scrap and alloys.

Trump indicated that more details of the reciprocal tariff plan will be disclosed in a news conference later this week. His long-standing criticism of the European Union’s higher tariffs on US car imports (10%) compared to the US’s 2.5% tariff on EU cars was highlighted as part of his drive for “fair treatment” in international trade.

The US’s trade-weighted average tariff rate is approximately 2.2%, lower than countries such as India (12%), Brazil (6.7%), Vietnam (5.1%), and EU nations (2.7%). Trump’s reciprocal tariffs will aim to address these discrepancies and bolster the US’s competitive stance in global trade.