Tariffs on imported steel and aluminium have gone into effect in the United States, as part of President Donald Trump’s growing series of trade moves that have rattled markets.
According to an earlier announcement from the White House, the United States will impose 25% tariffs on all steel and aluminium imports from all trading partners beginning Wednesday, with no exceptions or exemptions.
Canned goods, cars, and washing machines are among the products predicted to be impacted.
Baseball bats, sewing needles, and lighting may also increase in price.
Tariffs on imported steel and aluminium have gone into force in the United States, as part of President Donald Trump’s growing series of trade moves that have rattled markets.
According to an earlier announcement from the White House, the United States will impose 25% tariffs on all steel and aluminium imports from all trading partners beginning Wednesday, with no exceptions or exemptions.
Canned goods, cars, and washing machines are among the products predicted to be impacted.
Baseball bats, sewing needles, and lighting may also increase in price.
Trump later reversed course after an agreement was reached and Ford pulled back his threat to impose the electricity surcharge.
White House spokesman Kush Desai said in a statement that
“After President Trump threatened to use his executive powers to retaliate with a colossal 50 percent tariff against Canada, Ontario Premier Doug Ford spoke with Secretary Lutnick to convey that he is backing down on implementing a 25 percent charge on electricity exports to the United States”.
Ford will travel to Washington, D.C., for a meeting with U.S. Commerce Secretary Howard Lutnick on trade.
