Summary
Donald Trump announced a 25% tariff on foreign steel and aluminum, ending exemptions granted under Biden and increasing aluminum duties. The tariffs take effect March 4.
Trump claims they will boost domestic production and national security, while trade partners warn of retaliation. He also hinted at future tariffs on cars, chips, and pharmaceuticals.
The move extends his 2018 national security tariffs and reverses prior waivers. Economists warn tariffs could raise prices, but Trump insists they strengthen the economy and pressure trade partners into compliance.