By Brendan Scanland
WASHINGTON, D.C. — Monday evening, President Donald Trump signed an executive order imposing 25% tariffs on steel and aluminum imports into the United States.
The new tariffs come after Trump announced over the weekend that the new tariffs targeting steel and aluminum imports would be coming this week.
“Steel coming into the United States is going to have a 25% tariff,” said President Trump. Aluminum too,” when asked on Sunday.
The 25% blanket tariff on steel and aluminum imports prompted concerns from some trade and tariff experts.
“You’ll see price increases for everything from cars to toasters,” said Susan Aaronson, a professor at the George Washington University.
Aaronson warns the tariffs can have far-reaching consequences, especially for steel-consuming sectors.
“If you produce electronics, a dishwasher, if you produce jeeps and cars, military equipment, if you produce refrigerators. All of which use steel as a component,” said Aaronson, adding that other countries will likely strike back with retaliatory tariffs. “It’s not as simple as what goes around comes around. But when you strike at the heart of other nations economies, they will retaliate, and they will be very angry at the United States,” Aaronson added.
Trump’s tariffs Monday come one week after he paused a 25%t tariff on all imported goods from Canada and Mexico for 30 days.
Trump did however keep a 10% tariff on imports from China. In response, new Chinese tariffs on certain U.S. goods have begun including 15% for coal and liquified natural gas and 10% for crude oil, certain vehicles and farm equipment.
Many Republican lawmakers support the President’s approach.
“President Trump’s tariff policy has been an effective tool in leveling the global playing field and ensuring fair trade for American producers,” said House Agriculture Committee Chairman Glenn Thompson (R- PA). “After four years of the Biden-Harris Administration’s failure to expand foreign markets, which led to an inflated agricultural trade deficit of $45.5 billion, America’s producers deserve an Administration that will fight for them. I look forward to working alongside of President Trump to support our hardworking producers and to make agriculture great again.”
Trump also said on Sunday he plans to announce new reciprocal tariffs this week. The tariffs could match other countries’ tariffs on U.S. goods dollar-for-dollar.
