U.S. President Donald Trump said on Sunday he will introduce 25% tariffs on all steel and aluminum imports into the United States, on top of existing metals duties, in another major escalation of his trade policy overhaul.
Here's a summary of the major trade partners it will affect.
Steel
Roughly a quarter of all steel used in the United States is imported, primarily from Mexico, Canada, Japan, South Korea, and Germany. Although China is the world's largest steel producer, it exports very little to the U.S. due to 25% tariffs imposed in 2018. Last year, China exported 508,000 net tons, accounting for just 1.8% of total U.S. steel imports.
Aluminum
The U.S. is more heavily reliant on aluminum imports, with roughly half of its aluminum coming from abroad. Canada is the largest supplier, exporting 3.2 million tons last year—twice as much as the next nine countries combined. Other significant sources include the United Arab Emirates (347,034 metric tons) and China (222,872 metric tons).
The U.S. aluminum smelting industry is relatively small, accounting for just 1.73% of global capacity, according to the U.S. Geological Survey.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
The British steel industry is grappling with its most significant crisis in decades, as the government has been forced to intervene in an emergency bid to save the country's last operational blast furnaces at British Steel.
UK Business Secretary Jonathan Reynolds has suggested that the government may consider Chinese investment in British Steel, but he emphasized that any such bids would be subject to thorough scrutiny, particularly due to national security and economic concerns.
The UK government has taken control of British Steel’s Scunthorpe plant in a bid to save the country’s last major steelmaking site.
Hyundai Steel, in partnership with Hyundai Motor Group, announced a $5.8 billion investment to build a new steel plant in Louisiana, U.S., with an annual capacity of 2.7 million tonnes.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
Chile's Vera C. Rubin Observatory has unveiled its first cosmic images, captured using the world's largest digital camera, paving the way for breakthroughs in understanding the solar system and monitoring asteroid threats to Earth.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
President Donald Trump announced that U.S. forces struck three Iranian nuclear facilities, including Fordow, Natanz, and Esfahan, marking direct American involvement in the ongoing Israel-Iran conflict.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
Chile's Vera C. Rubin Observatory has unveiled its first cosmic images, captured using the world's largest digital camera, paving the way for breakthroughs in understanding the solar system and monitoring asteroid threats to Earth.
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