US To Impose 25% Tariffs On Steel, Aluminium Imports This Week

U.S. President Donald Trump decided on Monday (local time) to impose a 25 percent tariff on steel imports from Korea starting March 12, effectively nullifying up to 2.63 million tons of the annual tariff-free quota that had been agreed upon between the two countries in 2018 during his first term.

The moves align with the Trump administration's aggressive global trade agenda and ambitions to strengthen U.S. industry, but they could have an inverse effect.

Steel is an important material primarily used in construction, manufacturing, transportation and energy sectors due to its strength, durability and versatility.

Trump imposes 25% tariffs on steel, aluminium imports