Trump Announces 25% Tariffs on Steel and Aluminum

On Monday, President Donald Trump announced a 25% tariff on steel and aluminum imports via executive order.

Key Details: Argentina, Australia, Brazil, Canada, Japan, Mexico, South Korea, the European Union, Ukraine, and the United Kingdom are exempt from the tariff. Additional 10% tariffs will remain in effect on Chinese imports. Tariff negotiations continue with Canada and Mexico, two of the US's largest sources of steel and aluminum imports.

Key Quotes: "Foreign nations have been flooding the United States market with cheap steel and aluminum, often subsidized by their governments," the order stated. "Foreign nations have been flooding the United States market with cheap steel and aluminum, often subsidized by their governments." The Wall Street Journal Editorial Board (Lean Right bias) said the move would "harm U.S. manufacturers and workers."

For Context: During the campaign, Trump touted using tariffs to revive domestic industry and boost the economy. He sees tariffs as a source of revenue to help lower the federal budget deficit and also a tool to force concessions on immigration. Critics worry they could harm trade relations while raising US consumer prices.

How the Media Covered it: Axios (Lean Left) noted that some economists have warned that tariffs would hurt U.S. consumers. National Review News (Lean Right) reported that steel tariffs are an "anti-China move"; China is the world's largest steel exporter, though little is sent to the US.