By Janet H. Cho
President Donald Trump has proposed 25% tariffs on all steel and aluminum, he said on Air Force One en route to New Orleans to watch the Super Bowl.
Trump told reporters that he would announce the new tariffs on Monday. He also said he would announce so-called "reciprocal tariffs" on Tuesday or Wednesday on countries that have imposed tariffs on U.S.-made goods.
Trump in his first administration announced 25% tariffs on steel and 10% tariffs on aluminum, but later made exceptions for trading partners including Canada, Mexico, the EU, and the U.K.
On Friday, Trump said he supported an emerging agreement to allow Japan's Nippon Steel to invest in U.S. Steel after the Biden administration moved to block Nippon's $14 billion acquisition of the American steel producer.
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(END) Dow Jones Newswires
February 09, 2025 17:06 ET (22:06 GMT)
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