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Donald Trump’s 25% tariffs on steel and aluminum imports in the United States took vigor on Wednesday when he continued to continue his protectionist sales program despite increasing concern about the risk of national recession.
The president announced last month that he would impose the tasks, tearing several agreements concluded between his predecessor Joe Biden and the American trade partners to allow certain quantities of steel and aluminum to enter the country in the franchise of rights.
US officials under Trump led this decision in response to “foreign players” who, they believe, are responsible for “the rise in exports” of metals to America who undermine national producers.
Trump will also extend metal prices to apply to a wide range of products containing steel and aluminum, including tennis rackets, exercise bikes, furniture and air conditioning units.
The White House confirmed that the prices for derivative products would also apply from Wednesday.
This decision is part of a wider set of protectionist measures introduced by Trump since he took office in January. His efforts shook investors, raised fears of an American recession and embittered relations with some of the allies closest to America.
Australian Prime Minister Anthony Albanese said on Wednesday said that the prices were “entirely unjustified” and “against the spirit” of “sustainable friendship” of nations.
Australia was exempt from similar rates implemented during Trump’s first mandate, and the country’s steel producers provide the American defense and manufacturing sectors.
“It’s not a friendly act,” said Albanese.
Trump announced on Tuesday that he would double the prices applied to imports of steel and aluminum from Canada at 50%, marking an escalation in his trade war with one of the three main American trade partners, before overthrowing the course later.
Ontario Canadian Province, which announced a 25% supplement to electricity exported to the United States on Monday, said it would suspend the charge in order to defuse the Tit-For-Tat prices.
The complete list of steel and aluminum products subject to samples represented $ 151 billion in products imported in 2024, according to an analysis by Simon Evenett and Johannes Fritz of the St Gallen Endowment for Prosperity by trade.
Ted Murphy, partner of the law firm Sidley Austin, said that Trump’s new metal prices have represented a “big change” compared to his approach when he introduced similar samples in 2018 and has granted exclusions to certain products.
“Product exclusions have been verified through an American government process to confirm that products were not available in the United States,” said Austin. “So withdraw this means that many people will have to pay the price because they cannot find these products at the national level.”
Additional reports by Nic Fildes in Sydney
