Brief by Shorts91 Newsdesk / 12:56pm on 10 Feb 2025,Monday International
US President Donald Trump has announced a 25% tariff on all steel and aluminium imports. He also plans to impose "reciprocal tariffs" on countries taxing US goods. Canada, Mexico, and Brazil, key steel suppliers, could be affected. The UK steel industry is also worried, as the US is its second-largest export market. UK Steel warned that the move could hurt £400 million worth of trade. British foundries exporting to the US fear rising costs and supply disruptions. Canada and Australia have raised concerns about economic damage. More details on the tariffs are expected soon.
