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On Wednesday, Donald Trump’s 25 percent tariffs on steel and aluminium imports to the US took effect, as he continued to advance his protectionist trade policies amid increasing worries about a potential domestic recession.
Last month, the president declared his intention to enforce these duties, thereby scrapping several agreements made by his predecessor, Joe Biden, which permitted certain amounts of steel and aluminium to enter the US without tariffs.
Officials in the Trump administration have characterized this action as a response to “foreign players” they claim are responsible for the “surging exports” of metals, which they argue are harming domestic producers.
The tariffs will also be extended to a variety of products containing steel and aluminium, such as tennis rackets, exercise bikes, furniture, and air conditioning units.
The White House confirmed that tariffs on derivative products would begin to apply from Wednesday.
This initiative is part of a broader set of protectionist strategies rolled out by Trump since he assumed office in January. His policies have unsettled investors, amplified concerns over a US recession, and strained relationships with some of America’s closest allies.
On Wednesday, Australian Prime Minister Anthony Albanese expressed that the tariffs were “entirely unjustified” and contradict the spirit of the enduring friendship between the nations.
Australia had previously been exempt from comparable tariffs during Trump’s first term, and the country’s steel producers are key suppliers to the US defense and manufacturing sectors.
“This is not a friendly act,” stated Albanese.
Trump also announced on Tuesday that he would double the tariffs on steel and aluminium imports from Canada to 50 percent, escalating his trade conflict with one of the US’s top three trading partners, although he reversed that decision later the same day.
The Canadian province of Ontario, which had announced a 25 percent surcharge on electricity exports to the US on Monday, stated on Tuesday that it would suspend this charge to help de-escalate the ongoing tariff disputes.
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The comprehensive list of steel and aluminium products affected by the tariffs accounted for $151 billion in imported goods in 2024, as per an analysis by Simon Evenett and Johannes Fritz of the St Gallen Endowment for Prosperity Through Trade.
Ted Murphy, a partner at the law firm Sidley Austin, noted that Trump’s extensive new metals tariffs signify a “big change” from his earlier approach when he implemented similar tariffs in 2018 and allowed exemptions for certain products.
“The product exclusions were subject to a US government review to ensure the products weren’t available domestically,” stated Austin. “Removing that process means many will need to pay the tariff because they cannot source these products in the US.”
Additional reporting by Nic Fildes in Sydney
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