Trump to impose 25% tariff on ‘any steel coming into the United States’

Trump made the comments to reporters as he was en route to the Superbowl on Air Force One, where he said, “Any steel coming into the United States is going to have a 25 percent tariff." When he was also asked about aluminum, Trump added that "aluminum, too" that is imported would be subject to the same tax, according to the Associated Press.

He added that he would be taking steps to implement "reciprocal tariffs" on countries that are punishing the United States with the trade tax "probably Tuesday or Wednesday." He told reporters, "If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way."

The comments from Trump are similar to others where he has threatened to impose tariffs on imports, which would raise the costs for countries looking to sell their goods in the United States. In the case of Canada and Mexico, he used the threat of tariffs to gain concessions for the neighboring countries to secure their borders as well as invest in stopping the flow of fentanyl into the United States.

Trump has previously said that tariffs could be a source of tax revenue for the United States. The stock market in some industries has been volatile in response to the threats of tariffs, as some fear that imposing them could raise the costs of goods in the United States.

After gaining concessions from Canada and Mexico last week on securing their borders, Trump agreed to pause the tariffs for a space of time to negotiate with the two countries on the topic of trade.