U.S. President Donald Trump has announced a sweeping 25% tariff on all steel and aluminium imports, a move that is expected to send shockwaves through global markets. The decision, which aligns with Trump’s long-standing economic policies, could significantly impact major steel-producing nations, including Canada, the UK, China, and India.
With Canada being the largest steel exporter to the U.S., experts predict it will bear the brunt of this policy. India, home to steel giants like ArcelorMittal and Tata Steel, could also face trade disruptions, while China—previously accused of dumping steel—might see further restrictions.
This development follows the Biden administration’s recent move to block Japan’s Nippon Steel from acquiring U.S. Steel, underscoring America’s strategic approach to domestic industry protection. Trump’s economic stance remains clear: “I want to run the largest economy in the world, not on taxes, but on tariffs,” he said, famously calling “tariff” the most beautiful word in the American dictionary.
As the second Trump presidency enters its fourth week, business leaders and policymakers worldwide brace for the consequences of this aggressive trade maneuver.