Trump intends to announce 25% of customs on steel and aluminum

US President Donald Trump intends to impose customary duties with 25% on all imports of steel and aluminum to the United States, in a step that clinches the trade confrontation with some of the country’s largest commercial partners. The new procedure reinforces Trump’s protectionist approach and threatens to tension trade relations with large countries, at a time when investors are awaiting possible consequences for global markets and industrial supply chains. Trump said during his conversation with journalists on the presidential aircraft “Air Force One” Sunday that the new customs duties on steel and aluminum imports will include all countries. Also read: Brazil is preparing for US fees and to study revenge procedures, and if asked if Canada and Mexico – which is one of the largest metal providers for the United States – will be on the list, Trump confirmed that the drawings will be applied to “all”, but he did not specify a date to implement it. The US president also announced that this week he intends to reveal mutual customs duties on countries that impose tax on US imports, suggesting that these fees will be implemented “almost once they are announced”, without providing further details. Trump’s last step falls within the framework of a series of customs duties he has launched against specific countries and sectors, which has caused a state of turmoil in the markets over the past few weeks. However, it is still unclear whether it will continue with its implementation, especially after previously announcing fees on Canada and Mexico and then suspending it, while continuing with China’s imposition. A major US dependence on the import of aluminum The United States is mainly dependent on importing aluminum from countries such as Canada, the UAE and Mexico to meet local demand, as the net imports make up more than 80% of total consumption in 2023, according to Morgan Stanley estimation. In terms of importing steel, it forms a lower percentage of total consumption, but it is necessary for sectors that depend on special types of metal, such as the aviation industry, cars and energy, from wind power developers to oil exploration companies. Also read: The US aluminum sector urges Trump to exclude the metal of customs duties on Canada and during the first term of Trump, some oil companies have obtained exceptions from customs duties imposed on minerals, indicating that political and industrial pressure may affect how new decisions are applied.