Trump Signs Order On 25% Steel Tariff, Promises Reciprocal Duties In Next Two Days

U.S. President Donald Trump set off a second tariff war as he raised tariffs on steel and aluminium imports on Monday to a flat 25% “without exceptions or exemptions”. The move will aid the struggling U.S. domestic industries but will increase the risk of a global trade war. Trump signed proclamations raising the U.S. tariff rate on aluminium to 25% from his previous 10% rate and eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals. A White House official confirmed the measures would take effect on March 4. Trump has also promised detailed information on Tuesday or Wednesday on his reciprocal tariff plan. He has long complained about the EU's 10% tariff on auto imports, much higher than the U.S. car rate of 2.5%. Overall, the U.S. trade-weighted average tariff rate is about 2.2%, according to World Trade Organization data, compared to 12% for India, 6.7% for Brazil, 5.1% for Vietnam and 2.7% for the EU.