US Imposes Tariffs on Steel and Aluminum Imports, Prompting International Concerns

President Donald Trump signed executive orders on Monday, imposing a 25% tariff on steel and aluminum imports. The tariffs are scheduled to take effect on March 4 and apply to all countries, with potential exemptions for Australia under consideration. These measures are intended to bolster the domestic steel and aluminum industries, which Trump stated have been negatively impacted by foreign competition. The US imported approximately $49 billion worth of steel and aluminum in 2024, with Canada being the largest supplier of steel and aluminum. The announcement has sparked concern among trade partners, with potential retaliatory measures anticipated from affected countries. Experts suggest that unless the Trump administration offers exemptions, US consumers may face increased prices and production shortages.