Trump's Tariff Turmoil: The Impact on Steel and Aluminum Imports

The United States escalated a global trade conflict on Wednesday by doubling tariffs on imported steel and aluminum. This move, directed by President Donald Trump, is set to affect several of the country's major trade partners.

Steel imports constitute roughly a quarter of the U.S. market, predominantly coming from neighbors Mexico and Canada, alongside close allies like Japan, South Korea, and Germany. Notably, China's contribution remains minimal, with tariffs from 2018 effectively curtailing its exports to the U.S.

In contrast, the U.S. leans more heavily on aluminum imports, sourcing about half of its supply from abroad. Canada leads in this sector, comprising the majority of aluminum imports, while the U.S.'s domestic smelting capacity remains diminutive by international standards, holding just 1.73% of the global total.

(With inputs from agencies.)