President Donald Trump has significantly increased the import tax of steel and aluminum on October 10, canceling the exemptions and duty -free quotas for major suppliers, Canada, Mexico, Brazil and other countries.
According to Reuters, President Trump signed a document to raise taxes with aluminum imported to 25%, increasing from the 10% tax that he applied in 2018.
President Trump's decision on February 10 also restored 25% tax with millions of tons of imported steel and imported aluminum exempted taxes on the US under agreements on quota, exemption and thousands of exceptional products.
The announcement of increasing steel and aluminum tax imported to the US is the extension of the tax rate under Section 232 signed by President Trump in 2018 to protect steel and aluminum manufacturers. A White House official said that exemption commands have reduced the effectiveness of these measures.
President Trump will also apply a new North American standard that requires imported steel to be "melted and poured" while aluminum must be "melted and cast" in the area to limit the import of medium steel items The country through minimum processing into the US.
This decree not only applied taxes on imported steel but also taxed products made from imported steel.
President Trump's commercial adviser, Peter Navarro, said these measures will help US steel and aluminum producers as well as consolidate US economic and national security.
"Steel and aluminum tax version 2.0 will end the dumping situation of foreign countries, promote domestic production and protect the steel and aluminum industry such as the backbone and the pillar of the US economy and national security This is not just a commercial issue.
President Trump first refers to steel and aluminum tax on 9.2, which revealed a series of other taxposts this week.
According to the US iron and steel institute (AISI), Canada is the No. 1 foreign supplier, providing 6.6 million tons of steel to buyers in the US in 2024. Brazil, Mexico, South Korea and Vietnam are in 5 sources of imported sources The top US.
