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Why Trump Wants Higher Tariffs on Steel and Aluminum
Posted
February 10, 2025
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3,224
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February 10, 2025
3,224
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1:16Now PlayingAs he tries to reshape US trade ties with the rest of the world, President Donald Trump has unveiled a new tariff threat: He’s pledged to impose a 25% levy on US imports of steel and aluminum, which were valued at almost $50 billion in 2024. While the move is aimed at strengthening domestic production, it carries implications for the wider economy, given that the US relies on imports to meet a large portion of demand for the metals in sectors such as construction, auto manufacturing, drinks packaging and the production of military equipment.
Trump has already unveiled, then paused, blanket 25% tariffs on imports from Canada and Mexico, then went ahead with new 10% taxes on goods from China. The latest plan carries echoes of the president’s first administration, when steel and aluminum imports were subjected to tariff hikes following years of complaints from American companies and labor unions.
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