Washington, Feb 12 (EFE).\u2014 The United States will impose a 50 percent tariff on aluminum and steel imports from Mexico and Canada, as the 25 percent duty announced earlier by President Donald Trump will be compounded by existing tariffs on goods from both countries, a White House official told EFE.<\/p>\n\n\n\n
As a result, Mexico and Canada will face higher tariffs than other aluminum and steel-exporting nations, which will only be subject to the newly announced 25 percent tariff.<\/p>\n\n\n\n
The global 25 percent tariff, effectively doubling to 50 percent for Mexico and Canada, will take effect on March 12, according to the executive orders signed by Trump on Monday.<\/p>\n\n\n\n
The reason for the 50 percent duty is that the 25 percent tariff on aluminum and steel will be levied on top of an additional 25 percent tariff on Mexican and Canadian goods, which is set to take effect on March 4.<\/p>\n\n\n\n
Trump had originally planned to impose the 25 percent tariff on Mexico and Canada last week but postponed it until March 4 after reaching an agreement with their leaders to strengthen border security, curb fentanyl trafficking, and reduce migrant arrivals.<\/p>\n\n\n\n
If the broader tariffs on all Mexican and Canadian goods are not delayed further, aluminum and steel imports from these two countries will remain subject to a 50 percent duty.<\/p>\n\n\n\n
According to the American Iron and Steel Institute, Canada is the top supplier of steel to the US, followed by Mexico, South Korea, Brazil, and Vietnam.<\/p>\n\n\n\n
Meanwhile, Canada supplies nearly two-thirds of U.S. aluminum imports, according to the Aluminum Association.Trump argues that these tariffs will revitalize the US manufacturing sector, which has declined in recent years due to free trade agreements allowing cheaper foreign materials into the country.<\/p>\n\n\n\n
However, the interconnected nature of industries\u2014particularly with Mexico and Canada\u2014means the tariffs could drive up costs for products such as automobiles, whose components frequently cross borders before final assembly.<\/p>\n\n\n\n
Trump has repeatedly called tariffs “the most beautiful word in the dictionary” and has used them as a negotiating tool to secure concessions on trade, migration, and security.<\/p>\n\n\n\n
Last week, Trump imposed an additional 10 percent tariff on China, adding to those already in place since his first term (2017-2021).<\/p>\n\n\n\n
In response, Beijing announced retaliatory tariffs. The president has also hinted at introducing “reciprocal tariffs” in the coming days to match the levies other countries impose on US exports.<\/p>\n\n\n\n
He has not specified which nations will be affected but has frequently criticized the European Union’s 10 percent tariff on imported cars, far higher than the 2.5 percent imposed by the US. EFE<\/p>\n\n\n\n
bpm-sk<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"