Trump to announce 25% steel and aluminum tariffs

U.S. President Donald Trump has said he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, Reuters reports.

Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday.

He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country.

"And very simply, it's, if they charge us, we charge them," Reuters quoted Trump as saying of the reciprocal tariff plan.

The largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam, Reuters reported citing data from government and American Iron and Steel Institute.

By a large margin, hydropower-rich Canada is the largest supplier of primary aluminum metal to the U.S., accounting for 79% of total imports in the first 11 months of 2024.

Trump also said that while the U.S. government would allow Japan's Nippon Steel to invest in U.S. Steel, it would not allow this to become a majority stake.

"Tariffs are going to make it very successful again, and I think it has good management," Trump said of U.S. Steel.