Reuters reported on Trump's imposition of 25% duties on steel and aluminum shipments
US President Donald Trump raised tariffs on imports of steel and aluminum from 10% to 25%, and also canceled various exemptions and quotas on duty waivers for the largest suppliers. This was reported by Reuters on February 10, citing Trump's trade adviser Peter Navarro.
Previous tariffs on these types of goods were introduced by the American leader in 2018 to ensure national security and protect manufacturers.
It is specified that the corresponding decision was taken to increase the US own production. According to the agency, Trump will soon introduce a "North American standard" that will limit imports of aluminum and processed Chinese steel.
"The Steel and Aluminum Tariffs 2.0 will end foreign dumping, increase domestic production and ensure our steel and aluminum industries are the backbone and pillar of America's economic and national security," Navarro said.
Earlier in the day, the U.S. president announced that he would impose duties of 25 percent on steel and aluminum imported into the United States on Feb. 10. Such duties will be imposed on the products of those countries that previously imposed retaliatory restrictions on American products.
On February 1, Trump signed an executive order imposing trade tariffs of 25% on goods from Canada, China and Mexico. Then he also promised to impose duties on goods from the EU. With this decision, Trump seeks to reduce the flow of the opioid fentanyl across the border, as well as the flow of migrants.
In response, the State Council of the People's Republic of China on February 4 reported that from February 10, China imposes duties of 15% on coal and liquefied natural gas (LNG) from the United States. In addition, it was noted that tariffs of 10% will be imposed on U.S. oil, multi-cylinder cars, pickup trucks and agricultural machinery.
Reuters reported on February 6 that retaliatory Chinese duties against the United States could lead to a reduction in U.S. oil exports in 2025 for the first time since the COVID-19 pandemic began.
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