Trump Signs Executive Orders Imposing Steel, Aluminum Tariffs

AFP/APP

Washington: US President Donald Trump on Monday followed through on his promise to impose 25 percent tariffs on steel and aluminum imports, escalating trade tensions despite warnings from Europe and China.

“Today, I’m simplifying our tariffs on steel and aluminum,” Trump declared in the Oval Office while signing the executive orders. “It’s 25 percent without exceptions or exemptions.”

The US president also hinted at potential tariffs on automobiles, pharmaceuticals, and computer chips.

According to US trade data, Canada and Mexico—both previously threatened with tariffs by Trump—are the largest steel exporters to the United States, followed by Brazil and South Korea.

However, Trump suggested Australia might be exempt from the tariffs, citing a trade surplus in favor of the US, mainly due to aircraft sales.

“We have a (trade) surplus to Australia, one of the few. And the reason is they buy a lot of airplanes. They are rather far away and need lots of airplanes,” Trump explained.

Just before the executive orders were signed, Australian Prime Minister Anthony Albanese revealed that an exemption was under consideration following a conversation with Trump.

“The US president agreed that an exemption was under consideration in the interests of both of our countries,” Albanese told reporters.

Trump had previously imposed sweeping tariffs during his 2017-2021 presidency, aiming to protect US industries from what he viewed as unfair competition from Asian and European markets.