Trump signs order imposing 25 per cent tariffs on steel and aluminum
Trump signed the executive orders imposing the levies in the Oval Office, saying it’s a big deal and will make America rich again. The new duties come one week after Trump temporarily paused plans to hit canada and Mexico with 25 per cent across-the-board tariffs and a lower 10 per cent levy on Canadian energy.
URL: https://www.bnnbloomberg.ca/business/economics/2025/02/10/trump-signs-order-imposing-25-per-cent-tariffs-on-steel-and-aluminum/
Donald Trump slaps 25% tariffs on steel and aluminium imports with ‘no …US President Donald Trump on Monday introduced 25 per cent tariffs on all steel and aluminium imports into the united States, on top of existing metals duties, in the latest of a series of moves…
URL: https://www.scmp.com/news/world/united-states-canada/article/3298138/trump-signs-executive-orders-slapping-25-tariffs-steel-and-aluminium-imports
Trump Imposes 25% Tariffs on Steel and Aluminum From Foreign Countries That is what happened in Mr.Trump’s first term, when the president levied 25 percent tariffs on foreign steel and aluminum. While Mr. Trump and President Joseph R. Biden Jr. eventually rolled …
URL: https://www.nytimes.com/2025/02/10/us/politics/trump-tariffs-steel-aluminum.html
Trump’s Impact on Global Steel and aluminum Trade: An Interview with Expert Dr.Martha Stevenson
Table of Contents
In this conversation, we delve into the implications of President Donald Trump’s 25 percent tariffs on all steel and aluminum imports into the United States, their impact on the global trade landscape, and the policy changes that occurred during his term and also under President Biden.
Introduction
Dr. Martha Stevenson, a renowned economist specializing in international trade policies, joins us today to discuss the meaning of the 25% tariffs imposed by former President Donald Trump on steel and aluminum imports. She provides insights on the initial impact and subsequent developments in this sector.
Impact of 25% Tariffs on Global Trade
Editor: Dr.Stevenson, how do you assess the immediate impact of Trump’s 25% tariffs on foreign steel and aluminum imports?
Dr. Martha Stevenson: Initially, the tariffs led to meaningful disruptions in the global supply chain. They were especially challenging for countries that depended heavily on the US market for their steel and aluminum sales. The increased costs were passed on to consumers and businesses, affecting the broader economic landscape.
Response from Trading Partners
Editor: How did global trading partners respond to these tariffs?
Dr.Martha Stevenson: Many trading partners retaliated with their own tariffs targeting US goods, setting off a trade war that had ripple effects worldwide.The European Union, Canada, and Mexico were among those who implemented countermeasures. This escalation led to further strain on bilateral and multilateral trade relations.
Subsequent policy Changes
Editor: Can you shed light on the policy changes that took place under the Biden administration regarding these tariffs?
Dr. Martha Stevenson: Under President Biden, there were efforts to ease the trade tensions initiated by Trump. Some of the tariffs were either lifted or modified, reflecting a shift towards more cooperative and multilateral trade strategies. These changes aimed to support global economic recovery and strengthen alliances.
Long-Term Effects on the Industry
Editor: What are the long-term effects on the steel and aluminum industry in the US and globally?
Dr. Martha Stevenson: Long-term effects include adjustments in the global production and distribution of steel and aluminum. US domestic manufactures benefited from increased domestic supply, but the trade conflicts highlighted the vulnerabilities in the global supply chain and the need for resilient trade policies. Additionally, other countries have since invested more in domestic production to reduce dependency on US imports.
Conclusion
Editor: What are the main takeaways from this discussion?
Dr. Martha Stevenson: The main takeaways are that Trump’s tariffs had immediate and significant impacts on global trade,led to retaliatory measures,and influenced subsequent trade policies. The steel and aluminum industry continues to face challenges but is also more prepared for future disruptions in the global trade landscape.
