The United States will impose a 25% tariff on aluminum and steel imports, U.S. President Donald Trump announced last night. Additionally, he has requested that the Treasury Department halt the production of minted cents, arguing that it is too costly and aimed at reducing public spending.
After previously introducing additional tariffs on products from China, Trump stated that “Tuesday or Wednesday” would see the implementation of new tariff barriers, according to journalists accompanying him on Air Force One.
The BBC reports that during his trip to the Super Bowl in New Orleans, Trump declared that these tariffs would apply to “all steel and aluminum entering the U.S.” and added that “reciprocal tariffs” for certain countries would take effect “almost immediately” after the announcement.
“If they charge us, we charge them,” Trump said.
Trump 25% import tariff of Steel and Aluminum will impact these countries https://t.co/TGTjtZfDkT pic.twitter.com/PPko6bUJFw
— David Lee (@DavidLe76335983) February 9, 2025
He did not specify which countries would be affected but mentioned that it would not significantly impact those that already have “similar tariffs” as the U.S.
“For those who take advantage of the United States, we will have reciprocal tariffs,” he added.
The British news service notes that Canada and Mexico are the U.S.’s largest trading partners in steel, with Canada being the top supplier of aluminum to the U.S., making it the most affected by the new measures.
It is also recalled that during his first term, Trump imposed a 25% tariff on steel imports and a 10% tariff on aluminum imports from Canada, Mexico, and the EU. However, a year later, he reached an agreement with Canada and Mexico to lift the tariffs, while tariffs on EU imports remained in place until 2021.
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Trump Requests Halt to Minted Cent Production
Last night, Trump requested that the Treasury Department halt the production of minted cents, arguing that it is too costly and aimed at reducing public spending.
“For too long, the U.S. has been minting coins, and it’s a waste. I have asked the Treasury Secretary to stop producing new cents,” Trump wrote on his social media platform, Truth Social.
Billionaire Elon Musk, who leads the Government Efficiency Commission (DOGE), had mentioned this issue in January, citing the cost of producing cents.
The debate is not new in the U.S., as several bills have previously been introduced in Congress but were not passed. If Trump signs an executive order, Congress will likely have to approve it.
Trump has prioritized reducing government spending and has entrusted this issue to Musk and the commission’s team.
Canada halted cent production in 2012, citing high manufacturing costs.
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Source: Nova.rs, Foto: Reuters