Updated: Trump says tariffs on inbound steel, aluminum on the way

Contributing to an ever-shifting tariff landscape in the United States, President Donald Trump this weekend told reporters he was planning to implement tariffs on all inbound steel and aluminum, and on Monday, he signed proclamations that the White House says close existing loopholes and exemptions to restore a true 25 percent tariff on steel and elevate the tariff on aluminum to 25 percent.

As reported by the Associated Press and other news outlets, Trump related his newest tariff declaration to reporters traveling with him on Air Force One on Feb. 9 as he made his way to the Super Bowl in New Orleans.

“Any steel coming into the United States is going to have a 25 percent tariff,” Trump stated, according to AP, which also reports that when asked about a tariff on aluminum, Trump replied, “Aluminum, too.”

The president also says his administration is reviewing the trade policies of other nations so it can levy what it considers “reciprocal” tariffs on countries that impose duties on inbound U.S. products and materials.

“If they are charging us 130 percent and we’re charging them nothing, it’s not going to stay that way,” Trump reportedly said Sunday.

According to U.S. Census Bureau data aggregated by the Washington-based American Iron and Steel Institute (AISI), North American trading partners Canada and Mexico were two of the three largest shippers of steel into the U.S. last year.

In 2024, Canada sent more than 6.5 million tons of finished and semifinished steel to the U.S., followed by Brazil (4.5 million), Mexico (3.5 million), South Korea (2.8 million) and Vietnam (1.36 million).

A BBC report on the potential tariffs features a reaction from Doug Ford, the premier of the Canadian province of Ontario, with Ford labeling Trump responsible for “shifting goalposts and constant chaos, putting our economy at risk.”

That same report also indicates investors in South Korea have been selling shares in automotive and steelmaking firms listed there, including steel producer POSCO and automaker Kia Corp.

Twice this decade, South Korea’s Hyundai—which makes cars and steel—has indicated it is studying the idea of building an electric arc furnace (EAF) steel mill in the U.S.

On the trade policy front, the Arlington, Virginia-based Aluminum Association earlier this month stated it does not support tariffs placed on inbound aluminum from Canada or Mexico.

“Thanks to robust domestic demand and coming investment, the U.S. aluminum industry needs a steady and predictable supply of primary, secondary and scrap aluminum,” the association says. “The U.S. industry sources around two-thirds of the primary aluminum it uses every year from Canada, since all U.S.-based smelters, even running at full capacity, cannot produce nearly enough metal to meet demand. And, about 90 percent of U.S. scrap imports come from either Canada or Mexico. It would take billions of [dollars in] investment over decades to make the U.S. fully self-sufficient for its metal needs,” the Aluminum Association adds.

The association is more supportive of tariffs imposed on what it calls “nonmarket actors,” mentioning China specifically.

Following the executive order, Aluminum Association President and CEO Charles Johnson released a statement that reads: "We appreciate President Trump’s continued focus on strong trade actions to support the aluminum industry in the United States. During his first term, the president was early to recognize the genuine threat that nonmarket actors pose to U.S. manufacturing industries like ours. These actions helped lead to more than $10 billion in industry investment since 2016. In order for these investments to be successful and for American firms to make the cars, trucks, beverage cans, fighter jets, body armor and more that our industry provides, we need ready and affordable access to metal. Today, there is not enough smelting capacity in the United States to supply the growing aluminum industry with the input materials it needs.

"To ensure that American aluminum wins the future, President Trump should secure access to the aluminum metal supply needed for American manufacturers while continuing to take every possible action at the U.S. border against unfairly traded aluminum from China and elsewhere. This is consistent with action his administration wisely took during his first term and we are confident he will take again."

In its policy statement on trade, AISI also points to China as a source of overcapacity-related issues and mentions Mexico as the potential location for “widespread transshipment of steel through third countries” that brings Chinese metal into the U.S.

Thus, AISI says relative to Canada and Mexico, it seeks “a requirement that only steel products from Canada and Mexico that were melted and poured in North America are eligible for duty-free treatment.”

However, another U.S. aluminum group, the American Primary Aluminum Association (APAA), praised Trump's actions.

"Today is a great day for the U.S. aluminum industry," APAA President Mark Duffy says. "President Trump has shown tremendous leadership by taking action on the Section 232 program to put American aluminum workers first. Unfair trade practices have devastated the domestic aluminum industry, and President Trump’s actions today will protect thousands of American workers and their families.”

The APAA includes Chicago-based Century Aluminum and Magnitude 7 Metals, the first of which also released a statement supporting the tariffs.

“We strongly support today’s executive order from President Donald J. Trump imposing a 25 percent tariff to stop the flood of aluminum imports into the United States," Century Aluminum CEO Jesse Gary says. "President Trump’s decisive action will protect national security and help level the playing field for America’s aluminum workers.

“On behalf of our employees, I thank President Trump for putting America first and strengthening the Section 232 tariffs, which will help drive the resurgence of domestic aluminum production.”

This report was updated Feb. 11 to add that Trump signed the executive orders Feb. 10 with the tariffs to begin March 12, new comments from the Aluminum Association and comments from the American Primary Aluminum Association and Century Aluminum.