In a debate-worthy move, US President Donald Trump has announced a 25 per cent tariff on all steel and aluminium imports, leaving major trade partners scrambling to negotiate exemptions. The tariffs, set to take effect on March 4, 2025, have been met with widespread criticism and warnings of potential trade wars.
The United States, a significant importer of steel and aluminium, sources nearly a quarter of its steel from foreign suppliers, according to the American Iron and Steel Institute. Its dependence on aluminium is even greater. Key suppliers include neighbouring Canada and Mexico, as well as several Asian allies.
Trump has stated that the tariffs will be implemented “without exceptions or exemptions,” a decision that has prompted varied reactions from global partners.
Canada condemns ‘unjustified’ tariffs
Canada, one of the largest suppliers of both steel and aluminium to the US, stands to suffer significant losses. Industry Minister François-Philippe Champagne described the move as “totally unjustified.”
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