As expected, US president Donald Trump has followed through with pervasive steel and aluminum tariffs on all countries, including Canada.
Trump signed the orders late Monday afternoon. Although it was initially scheduled to be televised, he made the orders off air.
Although the tariffs apply to all countries, Canada is by far the most exposed — especially aluminum — of which it is the world’s fourth largest producer.
According to the US Department of Commerce, the US imported 3.2 million tonnes of Canadian aluminum, or 10 times more than the next nearest supplier, the UAE at 0.3 million tonnes.
It wasn’t clear if the tariffs come in immediately, but Bloomberg reported that they will take effect on March 4, exactly 30 days after he delayed across the board tariffs on Canada and Mexico. It's also a week before the Liberal leadership vote when Canada gets a new prime minister.
Trump made the threats while flying over the ‘Gulf of America’ on Air Force One on the way to the Super Bowl on Sunday.
“Any steel coming into the United States is going to have a 25% tariff,” Trump told reporters on Sunday while flying on Air Force One to the Super Bowl.
“Aluminum, too.”
Canada, Mexico, Brazil, South Korea, and Vietnam are among the top steel suppliers to the U.S., according to the American Iron and Steel Institute.
The Aluminum Association said the U.S. relies on Canada for about two-thirds of its primary aluminum.
Trump also announced he will introduce reciprocal tariffs on other U.S. trading partners this week.
“Very simply, if they charge us, we charge them,” said Trump, adding those measures would take effect “almost immediately.”
This is not the first time Trump has threatened tariffs on steel and aluminum.
In Trump’s first term in 2018, he imposed levies on steel and aluminum imports.
In Trump’s first term in 2018, he imposed levies on steel and aluminum imports.
Canada and other allies retaliated with their own tariffs before a deal in 2019 lifted the measures for Canada and Mexico.
He warned there would be no exceptions, saying he was "simplifying" the rules. He also said the orders are "the beginning of making America rich again."
Canada alone accounted for more than 50% of aluminium imported into the US last year.
Already, the government of Australia said it was close to obtaining an exemption.
Prime Minister Anthony Albanese said he spoke with Trump, and the US president is considering an exemption for Australia on steel tariffs.
“On tariffs, we discussed Australia’s position when it comes to tariffs, particularly with regards to steel and aluminium,” Albanese said after he urged for Australia to be excluded from 25% levies.