U.S. Commerce Secretary Howard Lutnick indicated that the 25% tariffs on steel and aluminum imports, set to take effect on Wednesday, are unlikely to be postponed.
- When asked on NBC’s Meet the Press over the weekend if the tariffs would go into effect on March 12 as planned, Lutnick confirmed, “Yes.”
The tariffs, imposed by President Donald Trump in February, cover imports from key suppliers like Canada and Mexico and extend to finished metal products. While U.S. steelmakers have urged Trump to maintain the levies without exemptions, the measures could impact American businesses that rely on these materials.
Officials say the policy aims to curb efforts by countries such as Russia and China to circumvent existing trade restrictions.
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Trump’s approach to tariffs—often characterized by abrupt announcements, reversals, and delays—has created uncertainty and market volatility.