Trump plans to unveil 25% tariffs on aluminum and steel imports amid trade policy overhaul
Published On Feb 9, 2025, 6:04 PM
President Trump is set to announce a new round of tariffs, imposing a 25% tax on all aluminum and steel imports into the U.S. This decision continues the trend from his earlier administration's tariffs in 2018. The announcement comes as part of a broader overhaul of trade policy and aims to protect American manufacturing. Additionally, there are plans for "reciprocal tariffs" targeting countries that levy tariffs on U.S. exports. The reaction has been mixed, with both support and pushback from various leaders and industry representatives.
Stock Forecasts
X
Positive
The introduction of these tariffs is likely to increase costs for manufacturers dependent on imported metals, potentially leading to higher prices for consumers and sluggish growth in sectors relying heavily on these materials. Conversely, domestic steel and aluminum producers could benefit from decreased competition from imports, possibly leading to higher stock prices for these companies.
SPY
Negative
Complications in international trade relations due to these tariffs may harm U.S. exports and provoke retaliatory tariffs from impacted countries, negatively impacting sectors reliant on global trade.
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ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Sunday that he will announce on Monday 25% tariffs on all steel and aluminum imports into the U.S., another major escalation in his trade policy overhaul. Trump, speaking to reporters on Air Force One, also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately. Trump during his first term imposed tariffs of 25% on steel and 10% on aluminum, but later granted several trading partners, duty-free quotas, including Canada, Mexico, the EU and UK.