Steel and Aluminum imports to face 25% Tariff, Trump confirms

Washington (Uttam Hindu News): Ever since Donald Trump became the President of America, he has surprised everyone with his decisions. His decisions are affecting the entire world. Now Donald Trump has made a new announcement he has said that he will impose a 25 percent tariff on the import of steel and aluminum. Trump will soon make an official announcement in this regard. Another big announcement by President Trump, decision to impose 25 percent tariff on steel and aluminum imports: While talking to the media Trump said that he will also impose reciprocal tariffs on various countries. Although he did not say on which countries he is going to impose reciprocal tariffs but he indicated that whichever country imposes higher tariffs on America they will also impose the same tariff on that country. During his first term too Donald Trump had imposed 25 percent tariff on steel and 10 percent tariff on aluminum.

The countries that will be most affected by Trump's decision to impose tariffs on steel and aluminum include Canada, Mexico and Brazil. According to statistics America imports most of its steel from Canada, Brazil and Mexico. Apart from these, America also imports steel from South Korea and Vietnam, so these countries will be most affected by Trump's decision to impose tariffs.

It is worth noting that Trump had recently announced to impose a 25 percent tariff on Canada and Mexico. However, later Trump postponed his decision to impose tariff on both the countries for 30 days. According to media reports, Trump can also impose tariff on things like pharmaceuticals, oil and semiconductors and this is currently being considered.