President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States on Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.
It’s the latest salvo in Trump’s multifaceted tariff war aimed at correcting perceived trade imbalances and reigniting domestic manufacturing.
“It may go up higher,” Trump said Tuesday of the 25% tariff on all countries’ steel and aluminum sent to the US at an event hosted by the Business Roundtable. “The higher it goes, the more likely it is they’re going to build,” he said, referring to more companies moving their production to the US.
The tariff on steel and aluminum marks the first time in Trump’s second term that a tariff has been applied to all countries.
