Trump signs tariffs of 25% on steel and aluminum that will apply to all countries

President Donald Trump announced plans to impose a 25% import tax on all steel and aluminum entering the United States, a move expected to hit Canada the hardest.

Trump also mentioned there would be an announcement later in the week regarding reciprocal tariffs on countries that tax U.S. imports. However, he did not specify which nations would be targeted or whether any exemptions would be granted.

"If they charge us, we charge them," Trump said.

This decision marks a significant escalation in Trump’s trade policies, which have already prompted retaliation from China.

Canada and Mexico are two of the largest trading partners for U.S. steel and aluminum. Meanwhile, the U.S. market accounts for about 10% of the UK steel industry’s exports. For some UK suppliers of specialized steel products, the U.S. is a critical market, representing a large share of their business.

Trade organization UK Steel warned that U.S. tariffs would be a "devastating blow" to the UK steel industry.

In the U.S., steel production is a politically charged issue. Some argue that the country must be able to produce enough high-quality steel domestically to supply its military in case of a national emergency without relying on imports.

During Trump’s first term, his administration imposed 25% tariffs on steel and 10% on aluminum from Canada, Mexico, and the European Union. A year later, the U.S. reached a deal to end those tariffs with Canada and Mexico, although tariffs on European imports remained in effect until 2021.

The initial tariffs raised costs for American car manufacturers and beverage companies that rely on aluminum for cans, with those costs ultimately passed on to consumers, according to a report by the Tax Foundation think tank.

Speaking aboard Air Force One on Monday, Trump reaffirmed his plan, saying the new tariffs would apply to everyone.

"Any steel coming into the United States is going to have a 25% tariff," Trump said.