The new tariffs came into effect today.
Mar 12, 2025
In order to boost the domestic manufacturing sector as well as help the struggling industries in the country, US President Donald Trump on Wednesday imposed a flat 25 percent tariff on all steel and aluminum imports into the country.
The proclamations, signed by the US President on February 10, 2025, came into effect today.
Watch: Top Cable Companies in India
The decision seeks to hike the tariff rate on aluminum to 25 percent from the previous 10 percent rate, eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals.
Trump said the decision was meant to simplify tariffs on the metals. It would include all countries, ‘without exceptions or exemptions,’ no matter where the imports came from, he added.
The move was seen as an extension of Section 232 tariffs raised by Trump in 2018, during his last tenure as the US President.
Media reports quoted a White House official as saying that the exemptions had eroded the effectiveness of these measures.
Also Read: Sterlite Appoints Monica Madan as Chief Financial Officer
The decision is expected to impact millions of tons of aluminum and steel imports from Mexico, Brazil, Canada, South Korea and other countries entering the US duty free under the carve-outs.
