Trump to impose 25% steel tariffs

Speaking on Air Force One as he flew from Florida to New Orleans for the Super Bowl, he said the new levies would be on top of existing metals duties.

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

Trump 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 nation.

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

Trump previously threatened 25% import taxes on all goods from Canada and Mexico, though he paused them for 30 days last week. At the same time, he proceeded to add 10% duties on imports from China.

Trump said tariffs on the European Union would be implemented ‘pretty soon’. When questioned about the UK, the president said Britain was ‘out of line’ when it came to trade but he thought the situation could be ‘worked out’ without the use of tariffs.

Doug Ford, the premier of the province of Ontario, has accused Trump of ‘shifting goalposts and constant chaos, putting our economy at risk’ in an online post.

Trump's comments also caused the stocks of major South Korean steel and car makers to fall, with South Korea being a major exporter of steel to the US.

Australian Prime Minister Anthony Albanese told parliament his government will ‘make the case’ to the US for Australia to be given an exemption to any steel and aluminium tariffs, a measure which was in place during Trump’s first term.

Source: Sky News/BBC