US Imposes 25% Tariffs on All Imported Steel and Aluminum, Officially Taking Effect

On March 12 local time, the measure taken by the US government to impose a 25% tariff on all steel and aluminum imported into the United States officially came into effect.In addition to the tariffs on steel and aluminum, the US will also impose a 25% tariff on automobiles in April.

Accordingly, the European Commission announced that the EU will impose retaliatory tariffs on US products worth 26 billion euros (CNY 205.1 billion) starting next month in response to the US imposition of a 25% tariff on all imported steel and aluminum. The countermeasures will be implemented in two steps, starting from April 1 and fully implemented on April 13. Meanwhile, the EU will always keep the door open for negotiations.

At the same time, on March 12 local time, Canadian Finance Minister, Foreign Minister, and Industry Minister announced that starting from March 13 local time, Canada will impose a 25% retaliatory tariff on US steel products worth CAD 12.6 billion (CNY 63.3 billion), aluminum products worth 3 billion Canadian dollars, and other products worth CAD 14.2 billion, totaling CAD 29.8 billion of US products in response to the US imposition of a 25% tariff on all imported steel and aluminum.