Trump says he will announce 25% rates for steel and aluminum on Monday, and more duties are coming – NBC Washington

President Donald Trump said he would announce on Monday that the United States would impose 25% tariffs for the entire import of steel and aluminum, including Canada and Mexico, as well as other imported obligations later during the week.

“Every steel that enters the United States will have a 25% tariff,” he told reporters on Air Force One Sunday while flying from Florida to New Orleans to attend Super Bowl. To the question of aluminum, he replied: “Aluminum too” will be subject to commercial penalties.

Trump has also confirmed that he will announce “reciprocal tariffs” – “Probably Tuesday or Wednesday” – which means that the US will impose obligations to import products in cases where another country has imposed obligations on US goods.

“If we charge us 130% and we don’t charge them anything, it won’t remain so,” he told reporters.

Trump’s comments are the last example of his desire to threaten, and in some cases to impose import taxes. Tariffs come much earlier in his Presidency than in his previous four years in the White House, when he prioritizes tax reduction and deregulation. Trump alternates that he sees taxes on imports as tools to force discounts on issues such as immigration, but also as a source of revenue to help close the government’s budget deficit.

The financial markets fell on Friday after Trump first stated that he would impose reciprocal tariffs. Shares prices also dropped after a measure of consumer sentiment decreased on Friday, to a large extent, because many respondents cited the rates as increasing anxiety. The study also found that Americans were expecting inflation to score in the coming months for obligations.

Trump on Sunday did not offer any details about the duties of steel and aluminum or reciprocal tariffs. Previously, Trump threatened 25% taxes on the import of all goods from Canada and Mexico, although he stopped them for 30 days just a week ago. At the same time, he proceeded to add 10% duties on imports from China.

Still, on Friday, he said that he would also slow down the tariffs for millions of small packages-often from fast fashion companies such as Temu and shein, as customs officers cannot come up with ways to impose them. Small packages had previously been excluded from tariffs.

Trump’s latest remarks have caused immediate concern from some global trading partners.

South Korea President CHOY SANG-MOK convened a meeting with the best foreign policy and trade employees in the country on Monday to explore how the Trump steel and aluminum tariffs will affect its industries.

The Choi Service, who is also the country’s finance minister, said the employees were discussing the potential impact and possible answers of Seoul, but the specific details of the meeting were not disclosed. Shares prices of the main South Korean steel manufacturers, including Posco and Hyundai Steel, dropped when the market opened on Monday. South Korea sent steel worth about $ 4.7 billion to the United States from January to November last year, representing 21% of its global products exports during the period.

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Superville reported from Aboard Air Force One. The writer of the Associated Press Kim Tong-Hugue in Seoul, South Korea, has contributed to this report.