Latest Tariff News 3/12/25

Trump’s 25% metals tariffs took effect on Wednesday

President Donald Trump’s increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. Trump’s action to bulk up protections for American steel and aluminum producers restores effective tariffs of 25% on all imports of the metals. It extends the duties to hundreds of downstream products, from nuts and bolts to bulldozer blades and soda cans.

Canada and Europe respond with reciprocal tariffs

The European Commission, the executive arm of the European Union charged with coordinating trade matters, responded swiftly, saying it would impose counter tariffs on up to 26 billion euros ($28 billion) worth of U.S. goods.

Canada is hitting back at the United States with additional counter-tariffs worth $29.8 billion in response to new duties on Canadian steel and aluminum. Finance Minister Dominic LeBlanc said Canada’s new 25 per cent reciprocal tariffs will go into effect at 12:01 a.m. eastern on Thursday (3/13/25) and apply to steel products worth $12.6 billion, aluminum products worth $3 billion and additional imported U.S. goods worth $14.2 billion.

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