U.S. Imposes 25% Tariffs on Steel and Aluminum Imports Starting Wednesday

The U.S. will enforce 25% tariffs on steel and aluminum imports starting Wednesday. Commerce Secretary Howard Lutnick confirmed this on NBC’s Meet the Press.

President Donald Trump initially announced these tariffs last month, effective March 12. Uncertainty lingered as other tariffs were applied and suspended.

Dairy and Lumber Tariffs Delayed
Lutnick stated that 250% tariffs on Canadian dairy and lumber are postponed until April 2. Trump had earlier hinted at imposing them immediately.

Canadian Industry Calls for Urgent Action
Catherine Cobden of the Canadian Steel Producers Association urged governments to mitigate the tariffs’ “devastating effects.” Quebec’s aluminum exports to the U.S. hit $8.8 billion in 2023.

Quebec supplies 64% of U.S. raw aluminum. Premier François Legault threatened to redirect exports to Europe. Prime Minister Justin Trudeau pledged support for steel and aluminum workers.

U.S. Industrial Concerns Grow
Scott Paul of the Alliance for American Manufacturing noted tariffs already apply to nearly half of U.S. steel and aluminum imports.

Some U.S. manufacturers are delaying orders or increasing stockpiles. The U.S. trade deficit hit a 30-year high in January, driven by gold purchases and tariff anticipation.

Market Uncertainty Rises
Trump’s tariff delays have fueled market uncertainty. Wall Street erased most post-election gains last week as consumer and business confidence declined.

Conclusion
The 25% tariffs on steel and aluminum mark a significant trade policy shift. Both Canadian and U.S. industries brace for economic impacts.