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- Policy content: On February 10, 2025, local time, Trump signed an executive order announcing a 25% tariff on all steel and aluminum imported into the United States, and claimed that there would be “no exceptions and exemptions” to the relevant requirements. At the same time, the steel and aluminum duty-free quotas and exemption policies for some trading partners were cancelled. The relevant measures will take effect on March 12.
Possible impact
- For the United States: In the short term, the cost of purchasing steel and aluminum for American companies and products containing steel and aluminum materials for consumers will increase. In the long run, manufacturers may be reluctant to invest due to the uncertainty of tariff policies, which will have a negative impact on the US manufacturing industry.
For international trade: The imposition of tariffs is bound to trigger countermeasures from various countries. For example, the European Union has stated that it will take “resolute and equal” countermeasures, which may accelerate the reconstruction of the global supply chain.