U.S. President, Donald Trump, plans to impose tariffs of 25 per cent on steel and aluminium imports into the United States, he said on Sunday.
“Any steel coming to the United States is going to have them, 25 per cent tariff,” Trump said, according to journalists travelling with the president. When questioned about tariffs on aluminium imports, Trump replied, “25 Per cent for both.”
Trump also confirmed his plan to announce further reciprocal tariffs in the coming week.
He spoke of an announcement on Tuesday or Wednesday.
“Very simply, if they charge us, we charge them”, Trump told reporters, adding that the tariffs would go into effect almost immediately.”
U.S. tariffs of 10 per cent on Chinese goods took effect from February 4.
The planned tariffs of 25 per cent on Mexico and Canada were suspended for an initial period of 30 days following promises from the two countries to increase border security measures.
Trump won November’s presidential election promising to slap high tariffs on foreign goods to reduce U.S. trade deficits.
He implemented a number of duties during his first term from 2017 to 2021.
