Trump tariffs live updates: No steel, aluminum tariff exemptions coming, Trump says
ere's the latest on where things stand on various fronts:
Steel and aluminum: A 25% US tariff on imports of steel and aluminum from all countries took effect on Wednesday, March 12. On Sunday, Trump rebuffed the idea that there could be exemptions to the metals duties.
European Union: The EU has responded to those metals duties with counter-tariffs on $28 billion in US goods from April, bringing Trump's trade war across the Atlantic. Trump has threatened targeted tariffs on the bloc of European countries, and he vowed to respond to those counter-tariffs. Most notably, last Thursday, he threatened a 200% tariff on "wines, champagnes, and alcoholic products" if the EU did not remove a tariff on imported US whisky.
Canada and Mexico: Trump's 25% across-the-board tariffs on its US neighbors went into effect on Tuesday, March 4. Just two days later, Trump confirmed the US would pause tariffs on goods and services compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2. For its part, Canada retaliated to the steel and aluminum tariffs with new duties on about $20 billion of US goods. The two countries have agreed to new trade talks.
China: Trump has enacted new blanket tariffs of around 20% on top of existing 10% duties that went into place during Trump's first term. China has responded with up to 15% duties on US farm goods such as chicken and pork, which went into effect Monday, March 10.
Trump has also signed a measure that could lead to the implementation of reciprocal tariffs on US trading partners as soon as April 2, aiming to fulfill a frequent campaign promise and raise revenue as Republicans ready a tax and spending bill.
