February 13, 2025
New Tariffs Announced on Steel and Aluminum
The U.S. has announced new tariffs of 25% on all imported steel and aluminum, set to take effect on March 12, 2025. The measure eliminates prior exemptions for Canada, Mexico, the European Union, the United Kingdom, Japan, and other key trading partners. For business leaders, the immediate concern is the rising cost of raw materials and potential supply chain disruptions. The move is part of a broader effort to boost domestic manufacturing, but industries reliant on imported metals, including construction, automotive, and energy, are expected to face higher expenses. Economists estimate the tariffs will impact $50 billion worth of goods.
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