White House staff reaffirmed on Tuesday that a global 25% tariff on all steel and aluminum imported into the US would take effect on Wednesday, beginning at midnight Eastern Standard Time. US President Donald Trump has perfected his time performance on announcing and then pivoting away from new tariff threats, after threatening double steel tariffs on Canada during the early hours of Tuesday's US market session and then entirely backing off by the end of the trading day.
Key highlights
25% steel and aluminum tariff begins at midnight.
No exemptions on steel and aluminum tariffs.
25% tariff on steel and aluminum with no exceptions or exemptions will go into effect for Canada and all of our other trading partners at midnight March 12th.
Trump Trade Secretary Navarro: No 50% steel and aluminum tariffs on Canada tomorrow.
Trump Trade Secretary Navarro: April 2nd we begin the process with reciprocity.
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