Saturday, February 15, 2025

US Tariffs

United States President Donald Trump has announced plans to impose 25 percent tariffs on all steel and aluminum imports, and reciprocal tariffs on countries leveling duties on US goods. 

On Monday, during a signing ceremony at the Oval Office, Trump announced the tariffs on foreign steel and aluminum were to be imposed “without exceptions or exemptions”. The tariffs are set to come into effect on March 12.



 

Who are the top suppliers of steel to the US? Steel is an important material primarily used in construction, manufacturing, transportation, and energy sectors due to its strength, durability and versatility. 

Roughly a quarter of all steel used in the United States is imported. Canada, Brazil, and Mexico are the top three steel suppliers to the United States. Between March 2024 and January 2025, they provided about half (49 percent) of steel imports for domestic consumption, according to the International Trade Administration. During that period, 

Canada supplied 22 percent (5.47 million tonnes) of the 25 million tonnes of steel imported into the United States, followed by Brazil with 15 percent (3.74 million tonnes) and Mexico with 12 percent (2.9 million tonnes). Mexico with 12 percent (2.9 million tonnes).

No comments:

Post a Comment

Canada Update - May 24, 2025

King Charles III to Deliver Speech from the Throne in Canada In a historic move, King Charles III is set to deliver the Speech from the Thr...