GuShiio.com Reciprocal tariffs will also be announced this week.
Author: Jin Shi Data
U.S. President Trump said he willMondayannouncedA 25% tariff is imposed on all imported steel and aluminum。
Trump told reporters aboard Air Force One on Sunday that the tariffs would apply to metals imported from all countries. He did not say when the tariffs would take effect.
He also said he would announce later this week a levy on countries that would impose taxes on U.S. imports.equivalent tariff。Trump said the tariffs will not take effect on the same day they are announced, possibly Tuesday or Wednesday, but will take effect soon.
These measures are the latest in a series of Trump’s threats to impose tariffs on countries and specific industries.
The scale of Trump’s overall tariff ambitions remains unclear. He also said that he would conduct investigations includingPharmaceuticals, petroleum and semiconductorsTariffs on other goods included, and said they are consideringEUImpose import tariffs.
Trump has vowed to impose tariffs on countries such as Canada and Mexico, accusing them of not doing enough to help stop illegal drugs and undocumented immigrants from crossing U.S. borders. But last week, Trump shelved plans to impose 25 percent tariffs on the two North American countries after their governments made modest commitments to help address his border concerns. Tariffs on Canada and Mexico are suspended until March 4.
Although Trump may do the opposite and move again to impose trade taxes, the decision has deepened the perception thatThat is, the new president is unwilling to honor his tariff threats, preferring to use tariffs as a negotiating tool.Trump has placed tariffs at the heart of reshaping the U.S. economy, reducing trade deficits and finding new sources of revenue to help achieve his tax agenda.
Economists believe the tariffs will increase costs for U.S. manufacturers of imported goods, raise prices for inflation-weary consumers, reduce trade flows, and fail to generate the revenue Trump predicts.
The Trump administration and its allies view the measures Mexico and Canada have promised to take at the border as a victory for the president’s approach.
Peter Navarro, one of Trump’s trade advisers, said in an interview hosted by Politico last week: We saw that a lot of people were surprised when the policy was announced, but we also saw that policies targeted Mexico and Canada have immediate results. rdquo;
The news comes as the U.S. steel industry seeks to recover from its worst year since Trump’s first term. Domestic steelmakers complain that the renewed increase in imports is hurting their profits and production.
Tariffs on steel and aluminum were among the earliest tariffs imposed during Trump’s first term. In 2018, Trump imposed a 25% tariff on steel and a 10% tariff on aluminum on national security grounds.
While imposing steel tariffs, Japan’s Nippon Steel Corp. Acquisition of us steel corp. for $14.1 billion The transaction also reached a deadlock. The deal was blocked by former President Biden and Trump opposed it.
Trump said after a meeting with Japanese Prime Minister Shigeru Ishiba on Friday that Nippon Steel is now considering investing in U.S. Steel rather than directly acquiring the company. Trump told reporters on Sunday that Nippon Steel cannot own a majority stake in U.S. Steel. The two companies are challenging U.S. blocking the deal in court.
Affected by the news, the US dollar index rose significantly in early trading, and commodity currencies fell sharply. As of press time, the US dollar index rose 0.64% to 108.39; the Australian dollar/US dollar fell 0.56% to 0.6248; and the US dollar/Canadian dollar rose 0.47% to 1.4369.
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