President Donald Trump on Monday expanded his steel and aluminum tariffs to cover all imports, effectively canceling deals with the European Union, the United Kingdom, Japan, and others.
The new executive orders build off the 25 percent tariff on steel and the 10 percent tariff on aluminum Trump imposed in 2018 during his first administration by raising duties, closing loopholes, and eliminating exemptions, according to a White House official.
“It’s a big deal. This is the beginning of making America rich again,” Trump said.
Trump’s nominee to be Commerce secretary, Howard Lutnick, was at Trump’s side when the president signed the two executive orders.
“When you imposed the tariffs the first time, you added 120,000 jobs,” Lutnick told Trump. “And since that time, [the tariffs have] been picked away and nicked away and excluded away, and we’ve lost 107,000 jobs. And remember, these aren’t just general jobs. These are steelworkers in America.”
Trump’s new action keeps the steel tariff at 25 percent but makes it more comprehensive and raises the aluminum tariff also to 25 percent.
“The Trump 2.0 tariffs are a direct response to the failed policies of the Biden administration, which allowed China, Russia, and many of our allies like Canada, Mexico, Brazil and the EU to manipulate trade and cripple U.S. industry. These measures will revitalize domestic production and safeguard critical industries,” a White House official told reporters on a call previewing the announcement, who was granted anonymity per the ground rules of the call.
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