Trump's 25% Tariff: Steel, Aluminum Imports Face Monday Deadline

U.S. President Donald Trump announced on Friday that he will impose a 25% tariff on all imported steel and aluminum on Monday. The tariff will apply to metal imports from all countries, but the timing of its implementation remains unclear.

In addition to the steel and aluminum tariffs, Trump also mentioned that he will announce reciprocal tariffs on countries that tax American imports later this week. These tariffs will not take effect on the same day as the announcement, possibly on Tuesday or Wednesday, but will follow shortly thereafter.

The move comes as part of Trump's "America First" policy, which aims to protect U.S. industries and jobs from foreign competition. The administration has previously imposed tariffs on goods from China, the European Union, and other countries, sparking a wave of retaliatory measures from trading partners.

The steel and aluminum tariffs are expected to have a significant impact on global markets, with potential consequences for industries that rely on these metals, such as automotive and construction. The move has been criticized by some economists and industry groups, who argue that it could lead to higher prices for consumers and hurt U.S. exports.

Trump's announcement follows a Section 232 investigation by the U.S. Department of Commerce, which concluded that imports of steel and aluminum threaten national security. The investigation was launched in April 2017, and the administration has since taken steps to restrict imports of these metals.

The tariffs are also likely to have geopolitical implications, as they could strain relations with key trading partners and allies. Some countries, such as China and the European Union, have already threatened to retaliate against the U.S. with their own tariffs on American goods.

As the details of the tariffs become clearer, markets and industries around the world will be watching closely to assess the potential impact on their businesses and the global economy. The coming days and weeks will be crucial in determining the extent to which the U.S. follows through on its protectionist policies and the response from other countries.