Metal import tariffs enforced by the U.S., amounting to 50%
Tariff Tussle
Published June 5th, 2025 - 06:49 GMT
Facebook | Twitter | WhatsApp | Share The US ramps up metal tariffs to 50%. (Shutterstock)
Donald Trump put pen to paper on Tuesday and boosted tariffs on all imported metals, doubling them from 25% to a whopping 50%. The U.S. is now giving Britain a break, thanks to a trade deal struck in May.
"These increased tariffs will more effectively counter foreign countries that dish out low-priced excess steel and aluminum in our markets, undermining the competitiveness of our own industries," Trump said.
A quarter of all steel used in the U.S. hails from abroad, with neighbors Mexico and Canada being the biggest exporters. Mexico's Economy Minister Marcelo Ebrard voiced his displeasure, claiming it makes no sense to levy a tariff on a product with a U.S. surplus. Canada also stated its intent to negotiate the removal of these tariffs.
The European Union (EU) Trade Commissioner Maros Sefcovic met with U.S. Trade Representative Jamieson Greer on Wednesday to discuss the possibility of an exemption. Sefcovic posted on Twitter that the discussion was productive and constructive.
The U.K. dodged these tariffs after signing the U.S.-U.K. Economic Prosperity Deal on May 8. However, British compliance with the deal will be under close scrutiny, as it could be subject to the 50% tariffs starting July 9. The U.K. steel industry welcomed the 25% tariff break, but Gareth Stace, director general of U.K. Steel, noted a remaining cloud of uncertainty over timings and final tariff rates, causing unease for U.S. customers.
As the dust settles, other countries might consider retaliatory measures or diplomatic engagements, with historical patterns hinting at imposing their own tariffs on U.S. goods or negotiating resolutions. Time will tell if these speculative reactions materialize.
Data from various sources reveal that Trump's tariffs could have significant impacts on businesses and consumers, raising manufacturing costs and potentially leading to price hikes for everyday goods like cars, home supplies, and packaging materials.
Stay informed with Al Bawaba for further updates on this developing story.
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- The increased metal tariffs imposed by Donald Trump could potentially affect various industries, including finance, due to the potential rise in manufacturing costs.
- As the tariff tussle continues, politics will likely play a significant role in determining the future of international trade relations, particularly between the United States and the European Union.
- In the entertainment industry, the tariff tussle may influence discussions about production costs and potential price hikes for projects involving metal materials.
- The history of similar tariff disputes provides insight into possible reactions from other countries, with some nations considering retaliatory measures or diplomatic negotiations.
- General news outlets like Al Bawaba will continue to monitor the situation closely, ensuring that readers are kept informed about any updates or developments in this evolving story.
