Trump’s decision may affect 2.1 trillion trade
Steel and Aluminum Tarrif: US President Donald Trump is going to make a big announcement today. On Monday, Trump will announce a 25 percent tariff on steel and aluminum imports in the US. However, he did not give any information about the date, the date by which these 25 percent tariffs will be implemented. Let us tell you that Donald Trump while talking with the media on Air Force One on Sunday said that a tariff would be imposed on the metal of all the countries coming to America. Along with this, Trump also said that the tariffs will be announced later this week for those countries which tax the imports of American goods.
America’s largest steel and aluminum supplier is Canada
Let us tell you that when Trump became the President of America for the first time, he announced 25 percent on steel and 10 percent on aluminum. However, at that time he gave relief to many of his partners and included Canada, Mexico and Brazil. The first place in the list of steel export countries in the US is Canada, then Brazil and third place Mexico. Along with this, the highest number of aluminum in the US comes from Canada.
Trump’s decision may affect 2.1 trillion trade
Canada supplied 79 per cent of the total aluminum imported in the US in the first 11 months of 2024. In such a situation, the biggest and effective impact of this decision of Trump is going to have on Canada. Let us tell you that Trump has signed 25 percent on the goods imported from Canada and Mexico and 10 percent on the goods imported from China. This decision of Trump is feared that trade war is being feared worldwide. Experts believe that this decision may affect the trade of about $ 2.1 trillion every year.
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