President Donald Trump plans to announce 25% tariffs on all aluminum and steel imports into the U.S. early this week.
Trump, who told reporters on Air Force One about his plans on Sunday afternoon, is expected to announce the new tariffs on steel and aluminum imports on Monday. Trump also plans to announce “reciprocal tariffs” – or tariffs directed at countries that impose duties on U.S. exports – on Tuesday or Wednesday.
The newest tariffs echo the 25% steel tariffs and 10% aluminum tariffs that his first administration imposed in 2018. At the time, the U.S. was the biggest importer of steel, while China was the largest exporter of steel.
Likewise, the U.S. is still one of the largest importers of aluminum, along with Germany and China.
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On Feb. 1, Trump introduced the International Emergency Economic Powers Act (IEEPA), which includes 25% tariffs on imports from Canada and Mexico and a 10% tariff on imports from China. The tariffs have received mixed reactions from consumers and negative pushback from foreign leaders, including Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
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“We need to protect Americans, and it is my duty as President to ensure the safety of all,” Trump wrote in a Truth Social post on Feb. 1. “I made a promise on my Campaign to stop the flood of illegal aliens and drugs from pouring across our Borders, and Americans overwhelmingly voted in favor of it.”
In a White House fact sheet, officials said that the purpose of the IEEPA was to help stop “illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.” Last week, the CEO of the largest steel producer in the U.S. endorsed the IEEPA tariffs.
In a letter obtained by Fox News Digital, Nucor Corp chair, president and CEO Leon J. Topalian wrote that he “applauds the first steps taken by President Trump in his America First Trade Agenda.”
“We look forward to working with President Trump to enforce our trade laws and strengthen American manufacturing!” the statement added.
FOX Business’ Emma Colton contributed to this report.
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