Trump doubles steel and aluminum tariffs: consequences for Canada and Mexico!

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From June 4, 2025, US President Trump increases tariffs to steel and aluminum to 50%to support domestic industry.
From June 4, 2025, US President Trump increases tariffs to steel and aluminum to 50%to support domestic industry. (Symbolbild/NAG)

Vereinigte Staaten - On June 4, 2025, the new tariffs decided by US President Donald Trump come into force on steel and aluminum imports. The duty rate increases from 25 % to 50 %. This measure was signed late Tuesday evening and is intended to strengthen the competitiveness of the US economy and reduce national security threats. This was explained by the advisor of the White House, Kevin Hassett, who also emphasized that the US metal industry urgently needs support to survive in the current market situation. The new regulation concerns all trading partners, with the exception of the United Kingdom, which has a temporary trade agreement with the United States and is still exposed to an inch of 25 % until at least July 9th.

The effects of this customs increase are particularly serious for Canada and Mexico, which are among the main suppliers of steel and aluminum for the USA. Canada exports more aluminum to the USA than the next nine countries. According to the information from Prime Minister Mark Carney's office, negotiations are currently underway to reduce the tariffs. Mexico, on the other hand, criticized the tariffs as irrational and plans to apply for an exception to the new tariffs because there is a surplus in steel trade with the USA.

international reactions

The European Union has expressed strong regret about the decision and warns of possible retaliation. The chief economist of the OECD, Alvaro Pereira, pointed out that these tariffs have steamed global trade, investments and consumption, whereby the United States is likely to be most affected. Several of Trump's tariff measures are also under legal review, but remain in force during the appeal procedure.

The introduction of these high tariffs underlines Trump's focus on protectionist measures that aim to contain foreign products that are offered at low prices in the USA. However, the question of how these steps will affect total economic growth remains to be seen because the markets react to the new conditions.

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