Donald Trump announces new tariff on all countries importing specific items into US as trade war escalates
Topics: Donald Trump, US News, Money
Ella Scott
Featured Image Credit: Anna Moneymaker/Getty
Topics: Donald Trump, US News, Money
President Donald Trump revealed in a briefing on the way to the Super Bowl that he plans to impose new import tariffs on specific items entering the United States.
Yesterday (February 9), the Philadelphia Eagles put an end to the Kansas City Chiefs’ three-peat dreams by snagging the Super Bowl LIX trophy with a solid 40-22 victory.
Among the 73,000+ NFL fans in attendance at Caesars Superdome in New Orleans was Trump, 78, who flew to the sporting event from his Mar-a-Lago home in Florida via Air Force One.
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Aboard the aircraft, the 47th President of the United States told reporters that plans were in motion for him to impose 25 percent tariffs on any steel and aluminum products coming into the country.
“Any steel coming into the United States is going to have a 25 percent tariff,” he told reporters on the aircraft.
When asked to clarify whether the penalties would impact aluminum imports, Trump simply responded, ‘aluminum, too’.
The Apprentice icon also said that ‘reciprocal tariffs’ would probably be announced on ‘Tuesday or Wednesday’.
According to the Associated Press, this means the US would impose import duties on products in cases where another country had already levied duties on US goods.
“If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” Trump explained.
Sky News reports that, following Trump’s announcement, share prices in steelmakers in Asia were mostly down on Monday (February 10), apart from those with operations in the US.
The recent conversation regarding trade penalties comes just days after the Republican politician said tariffs on the European Union (EU) would be implemented ‘pretty soon’.
"They don't take our cars, they don't take our farm products, they take almost nothing and we take everything from them. Millions of cars, tremendous amounts of food and farm products,” he said, via the BBC.
"I wouldn't say there's a timeline, but it's going to be pretty soon.”
French President Emmanuel Macron has since questioned why Trump had made ordering tariffs on the EU one of his ‘top priorities’.
“Is the European Union your first problem? No, I don’t think so. Your first problem is China, so you should focus on the first problem,” the 47-year-old said in an interview with CNN.
Macron also warned that the metal duties announcement could harm US citizens.
“It means if you put tariffs on a lot of sectors, it will increase the costs and create inflation in the US. Is it what your people want? I’m not so sure,” he explained.
When asked if he was willing to go ‘head-to-head’ with the businessman, Macron quipped: “I already did so, and I will did (sic) it again.”
Trump has also previously threatened to put 25 percent import taxes on all goods from Canada and Mexico.
"Anybody that loves and believes in the United States of America is in favor of tariffs. They should have never ended, in favor of the Income Tax System, in 1913. The response to tariffs has been FANTASTIC!," he added on his social media platform Truth Social.
However, he implemented a 30-day pause on these tariffs earlier this month after Mexico and Canada retaliated by issuing their own counter-tariffs.
As well as announcing the new metal tariffs, Trump used his flight onboard Air Force One to sign a proclamation declaring February 9 as the first-ever ‘Gulf of America Day’.
The initial order came just weeks after the father-of-five ordered the Gulf of Mexico to be renamed following his inauguration in Washington last month.
“Make America great again, that’s all we care about,” said Trump, before remarking the pen he used to sign was ‘famous now’.