U.S. President Donald Trump has signed executive orders imposing a 25% tariff on all steel and aluminum imports, with no exceptions for any country. The measure will take effect on March 12, 2025, and aims to protect domestic industries and balance international trade conditions.

Trump made the announcement aboard Air Force One on route to New Orleans, stating:
“All steel entering the United States will be subject to a 25% tariff”, adding that the same rule will apply to aluminum. He also announced that his administration will implement “reciprocal tariffs”, matching the customs duties that other countries impose on U.S. products.

This decision represents an escalation in the protectionist trade policies of his administration. In 2018, similar tariffs of 25% on steel and 10% on aluminum were imposed; however, exemptions were granted to key allies such as Canada, Mexico, and the European Union. With this new measure, all exemptions are eliminated, impacting even those countries that were previously exempt.

🌎 International Reactions

The global response was swift:

✅ The European Commission called the measure “illegal and economically counterproductive.”

✅ France urged Brussels to retaliate with tariffs on U.S. products.

✅ China, in turn, condemned the U.S. protectionist approach and announced specific tariffs on American goods.

📉 Global Economic Impact

Experts warn that this decision could trigger a large-scale trade war, disrupting international trade and straining diplomatic relations.

The Vice President of the European Central Bank, Luis de Guindos, highlighted the potential economic consequences of an escalating tariff conflict.

In the United States, the business community has also expressed concerns, as the new tariffs could increase costs for key industries, including:

🔹 Automobile manufacturing

🔹 Construction

🔹 Consumer goods production

While some U.S. steel companies such as U.S. Steel, Nucor Corp., Steel Dynamics Inc., and Cleveland-Cliffs Inc. have seen an increase in stock value following the announcement, concerns remain regarding the ability of domestic production to meet internal demand.

Jeremy Flack, from Flack Global Metals, supports the tariffs but warns that domestic production is insufficient, which could lead to higher prices and negatively impact manufacturers relying on these metals.

What’s Next?

With this measure, the Trump administration aims to strengthen domestic industry and counter what it perceives as unfair trade practices. However, the actual impact of these tariffs on the global economy and U.S. trade relations remains to be seen in the coming months.

At Calderón Marín, we are committed to providing comprehensive and personalized tax advisory services. If you need assistance on these matters or require more information on tax and/or foreign trade issues, do not hesitate to contact us. We are at your service!