The White House announced that starting this Saturday, the United States will impose a 25% tariff on steel imports and a 10% tariff on aluminum imports from Canada and Mexico. This measure has been taken by the U.S. government citing the need to protect the domestic industry and strengthen national security.
U.S. Commerce Secretary Wilbur Ross pointed out that discussions with Canada and Mexico have not reached satisfactory agreements for both parties, leading to the decision to apply these tariffs. President Trump has repeatedly expressed his dissatisfaction with the trade deficit that his country maintains with its northern and southern neighbors.
On the other hand, a 10% increase in imports from China was also announced, in an attempt to exert pressure amid trade negotiations between both countries. This increase adds to the growing trade tensions that have been rising over the past few months between the two economic powers.
Amid these trade disputes, Canada and Mexico have expressed their disagreement and mentioned the possibility of retaliating against U.S. exports. This new chapter in the global trade war seems far from reaching its end, generating uncertainty in international markets and among the various actors involved.
