President Donald Trump announced his plan to implement a 25% import tax on all steel and aluminum entering the United States, with the largest impact expected on Canada, the leading supplier of aluminum to the U.S. Trump also teased a forthcoming announcement later this week about reciprocal tariffs on nations that impose import taxes on U.S. goods, though he did not specify targeted countries or potential exemptions.
Speaking aboard Air Force One, Trump declared his intent to apply tariffs universally on steel and aluminum imports, stating, “Any steel coming into the United States is going to have a 25% tariff.” This decision marks a continuation of his trade policy which, during his first term, included similar tariffs on imports from Canada, Mexico, and the European Union, although agreements were later reached with Canada and Mexico to lift these tariffs.
The announcement has already sparked concerns among U.S. trading partners and affected global markets. Ontario Premier Doug Ford criticized Trump for creating instability that threatens the Canadian economy, especially Ontario’s steel industry. In response to Trump’s statements, stocks of major steel producers and automakers in South Korea, another significant exporter of steel to the U.S., saw notable declines.
Trump’s trade policies have frequently led to retaliatory measures from other countries, exemplified by China’s recent implementation of new tariffs in response to U.S. duties on Chinese goods.
The President hinted at additional tariff announcements expected to occur “Tuesday or Wednesday,” which he said would be effective almost immediately. These tariffs are intended to match those imposed on American products, fulfilling Trump’s campaign promise for reciprocal trade measures.
On his way to the Super Bowl in New Orleans, Trump also signed a proclamation declaring February 9 “Gulf of America Day,” celebrating his controversial decision to rename the Gulf of Mexico. This move has been disputed by Mexico, citing United Nations regulations that limit territorial claims to 12 nautical miles from a nation’s coastline.
In addition, Trump briefly mentioned ongoing, undisclosed discussions with Russian President Vladimir Putin and made bold assertions about the potential for U.S. territorial expansion, including his suggestions that the U.S. could annex Canada and Gaza. These comments continue to stir controversy and debate about the implications of his foreign policy and trade strategies.