Trump’s 25 per cent tariffs on steel imports go into effect

US President Donald Trump exits from his new Tesla Model S. Pic/AP

President Donald Trump officially increased tariffs on all steel and aluminum imports to 25 per cent on Wednesday. He removed all exemptions from his 2018 tariffs on the metals, in addition to increasing the tariffs on aluminum from 10 per cent.

The US president has separate tariffs on Canada, Mexico and China, with plans to also tax imports from the European Union, Brazil and South Korea by charging "reciprocal" rates starting on April 2.

European Union fights back

European Commission President Ursula von der Leyen said the US was "applying tariffs worth $28 billion, and we are responding with countermeasures worth 26 billion euros", or about $28 billion. Those measures, which cover not just steel and aluminum products, but also textiles, home appliances and agricultural goods, are due to take effect on April 1.

Australia says won't retaliate

Australian Prime Minister Anthony Albanese said that despite US tariffs on Australian steel and aluminum, his government would not retaliate. Trump said last month he was considering an exemption for Australia. A former Australian government secured an exemption with the Trump administration in 2018.

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