Trump Plans 25% Tariffs on Steel, Aluminum Imports

WASHINGTON — U.S. President Donald Trump announced Sunday his plan to impose new 25% tariffs on steel and aluminum imports, targeting a range of industries. The proposed levies, set to be detailed Monday, would be in addition to existing duties, though no implementation timeline has been provided.

The move could significantly impact the U.S. economy, affecting sectors such as transportation, construction, and packaging, which heavily rely on these metals. Over the past decade, U.S. steel imports have declined by 35%, dropping to 26.2 million metric tons in 2024, despite a 2.5% annual increase. Conversely, aluminum imports have risen 14%, with exports progressively increasing since 2020.

CRU Analyst James Campbell commented on CNBC, stating, ‘At the start, this could damage demand, but in the longer term, we can see investment coming through.’ This suggests potential short-term economic challenges but possible long-term growth opportunities.

Thyssenkrupp Steel’s recent announcement to reduce steel sector jobs by 11,000 to 16,000 within six years adds context to the industry’s challenges, possibly linked to global market pressures and production costs.