President Trump Imposes New Tariffs On Steel, Aluminum

As Bloomberg Government (subscription required) explained, late Monday afternoon, Feb. 10, President Donald Trump ordered a 25 percent tariff on all imports of steel and aluminum imports, including shipments from Canada and Mexico, and directed U.S. Customs and Border Protection to increase oversight to prevent foreign countries from misclassifying steel products to evade tariffs.

The levies, which also include finished metal products, are meant to crack down on what administration officials said were efforts by countries like Russia and China to circumvent existing duties. These tariffs will be imposed on top of existing penalties on metals imports.

President Trump warned the rate on metal tariffs “may go higher,” but conceded he eventually may offer exemptions for products from Australia. The new rates will go into effect March 4, 2025.

“Essentially, we’re putting on a 25 percent tariff, without exception, on all aluminum and all steel, and it’s going to mean a lot of businesses are going to be opening in the United States,” President Trump said Monday.

The president also reiterated his threat to levy reciprocal tariffs against countries that have imposed tariffs on U.S. imports, saying those could be announced over the next two days. Additionally, he said his administration will be examining the possibility of putting in place levies on cars and semiconductors, as well as other potential sectors.

As a reminder, while the Metals Service Center Institute (MSCI) supports actions to address unfair trade practices by countries that continually circumvent international rules, as a trade association representing firms throughout North America, our organization and its leadership have continually argued shipments from Canada and Mexico should be exempt from these penalties. Please find our 2017 testimony articulating this position at this link.