The President Donald Trumpsupporter of a Aggressive economic policy for the “United States First”promised these two metals and their derivatives in February without exceptions, which includes Canada and Mexico, its partners in the North American Free Trade Agreement (T-MEC).
On the other hand, the EU responds early on Wednesday with the renewal of tariffs to American products that he had adopted in 2018 and 2020 and that he had left without effect.
In addition, he completed those measures with a new package of tariffs against American products, which includes Bourbon, Harley Davidson and Yates motorcycles.
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“We firmly believe that in a world full of geopolitical and economic uncertainties, It is not common interest to overload our economies with tariffs“, Said the president of the European Commission, Ursula von der Leyen, reading a statement.
China also said that “United States actions seriously violate the rules of the (World Trade Organization), seriously damage the multilateral commercial system based on rules and do not lead to the solution of the problem ”, according to the spokeswoman of the Ministry of Foreign Affairs of Beijing, MAO NO.
Given this, he said that China -Mayor world manufacturer- “will take all necessary measures to safeguard their legitimate rights and interests“
Disappointment and regret
Instead, the United Kingdom said it was disappointed For the US measures that entered into force, but announced that it was not going to adopt Repliation measures immediately.
“We focus on a pragmatic approach and We quickly negotiate a broader economic agreement with the United States To eliminate supplementary tariffs, ”said the Secretary of State for Commerce, Jonathan Reynolds.
In turn, Japan regretted not having been excluded from taxes Americans although initially did not announce reprisals, according to government spokesman, Yoshimasa Hayashi.
The country most affected by US tariffs will be Canadathat supplies half of aluminum imports and 20 % of steel, according to the consultant EY-PARTHENON.
In the case of aluminum, United Arab Emirates, South Korea, Baréin and Chinawhich each represent between 3 % and 6 % of US imports, will also suffer the consequences.
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Brazil, India, Argentina and Mexico supply the market to a lesser extent, but they could still suffer interruptions in the supply chain As buyers adjust their supply strategies, warned the consultant.
In the steel sector, Brazil (17 % of imports) and Mexico (10 %) They will be the most affected after Canada. They are followed by South Korea, Germany and Japan.
United States imports approximately half of steel and aluminum that are used in the country for industries as diverse as Automotivethe aeronauticsthe petrochemistry and basic consumption products such as preserves.
Since the beginning of his second term, Trump has used tariffs as a negotiation tool with his commercial partners, as an incentive for companies to be installed in the country and as a source of income for federal finances.
Read more: Donald Trump plans to impose tariffs on agricultural products that enter the US.
The US president already taxed the imports of steel and aluminum during his first term (2017-2021). Unlike then, a broader range of metal products is now covered and they apply universally, without the exceptions that once benefited Canada, Mexico or Australia, and Without a quota systemthen dispensed to Brazil and Argentina for example. It is also cumulative, that is, it will be added to existing surcharges.
China, Canada and Mexico have suffered this tariff frenzy, with a Additional 20 % of rates Customs for the first and up to 25 % for the other two.
Trump accuses the three of not doing enough to prevent illegal fentanyl entry and, in the case of their neighbors, asks them to strive more to stop illegal migration.
“Huge uncertainty”
After weeks of negotiations he agreed to exempt Mexico and Canada from 25 % to the products contemplated in the T-MEC until April 2.
That day theoretically will come into force what Trump calls “reciprocal” tariffsdesigned to tax the products of a country when they enter the United States at the same level as this State imposes on the same US assets that matters.
That measure points to emerging countries, such as Brazil or India, that often impose higher tariffs to protect the national industry.
Tariff ads and threats have caused nervousness in stock markets.
In recent days, Wall Street has erased almost all earnings achieved since Trump’s choice In November 2024, in a context of fear of a recession in the United States.
There is also the risk of inflation, said Clarke Packard, researcher at Cato Institute.
To read more: Donald Trump backs back in massive tariff rise to Canada
Packard does not rule out that “tariffs are rapidly reflected in prices” and fears that this succession of ads will believe “enormous uncertainty” about the trajectory of the US economy.