Trump says he’ll announce new tariffs on aluminum, metal imports on Monday

President Trump mentioned Sunday that he’ll announce 25% tariffs on all metal and aluminum imports into the US on Monday.

Mr. Trump, talking on Air Power One on the way in which to New Orleans to attend the 2025 Tremendous Bowl, mentioned he would additionally announce “reciprocal tariffs” on Tuesday or Wednesday, which he mentioned will go into impact instantly. Because of this the U.S. would impose import duties on merchandise in instances the place one other nation has levied duties on U.S. items.

“In the event that they cost us, we cost them… each nation,” he mentioned, including: “If they’re charging us 130% and we’re charging them nothing, it is not going to remain that method.”

Throughout his first time period within the White Home, Mr. Trump imposed 25% tariffs on metal and 10% on aluminum earlier than granting a number of buying and selling companions duty-free quotas.

Earlier this month, the president licensed a wave of tariffs on America’s three closest buying and selling companions – Mexico, Canada and China. Final week he agreed to a 30-day pause on threats to impose 25% tariffs on imports from Mexico and Canada, with one other 10% tariff on Canadian oil, pure gasoline and electrical energy.

Mr. Trump, an avowed fan of tariffs, says they’re essential to make sure better cooperation from the international locations to cease unlawful immigration and forestall fentanyl smuggling, however he has additionally pledged to make use of tariffs to spice up home manufacturing and lift revenues for the federal authorities.