Donald Trump made a big announcement on tariff: US President Donald Trump announced on Sunday (9 February) that he plans to impose 25% tariffs on all steel and aluminum imports including the United States, Canada and Mexico. This step is to protect American industries and fix trade imbalances.
Trump’s decision is a major change in American trade policy
US President Donald Trump made the announcement in Air Force One while going from Florida to New Orleans to attend Super Bowl. He said, “Any steel coming in the United States will cost 25 percent.” This trade fine will also be imposed on aluminum. Trump’s decision is a major change in the US trade policy.
US President Donald Trump also made it clear that America will adopt a similar policy if other countries impose tariffs on American products. If other countries are charging 130 percent fees from us and we are not charging anything from them, then this situation cannot continue for long. We have to balance business relations properly. ‘
Steel and aluminum are very important in India and America relations. In 2023, India exported steel worth $ 4 billion to the United States and aluminum worth $ 1.1 billion. In January 2024, there was an agreement between the two countries that no tariff would be imposed on 336,000 tonnes of steel and aluminum trade. However, if Trump now imposes 25 percent tariff, India may get a big shock.
Causes of concern for Canada and Mexico
This decision can be worrying, especially for countries such as Canada and Mexico, which are US business partners. Canadian acting Prime Minister Justin Trudeau is currently in Paris, where he is attending a high -level artificial intelligence summit. However, after a dinner with French President Emmanuel Macron in Paris, he did not answer media questions on Trump’s tariff proposal.
