US President Donald Trump has significantly increased tariffs on steel and aluminum imports, revoking exemptions and duty-free quotas for major suppliers such as Canada, Mexico, and Brazil. This move could escalate trade tensions on multiple fronts. However, Trump indicated he might consider exempting Australia after a conversation with Prime Minister Anthony Albanese.
US President Donald Trump has moved to substantially raise tariffs on steel and aluminium imports, cancelling exemptions and duty-free quotas for major suppliers Canada , Mexico, Brazil and other countries in a move that could boost the risk of a multi-front trade war . Trump signed proclamations that raised the tariff rate on aluminium imports to 25 per cent, from the previous 10 per cent that he imposed in 2018 to aid the struggling sector.
Meanwhile, Canada, whose extensive hydropower resources aid its metal production, accounted for 79 per cent of US primary aluminium imports in the first 11 months of 2024. Trump’s tariff history During his first four-year term from 2017, Trump imposed tariffs of 25 per cent on steel and 10 per cent on aluminium.
Trade TRUMP TARIFFS STEEL ALUMINUM TRADE WAR AUSTRALIA CANADA MEXICO BRAZIL
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