President Donald Trump signed executive orders Monday imposing 25% tariffs on ste𝓡el and aluminum imports, which could potentially affect a slew of trading partners.

The tariffs will go into effect on March 12 and apply to the roughly 25 million tons of steel that the US imports each year.

This move comes just a week after the White House delayed broad tariffs on Canada and Mexico. Those countries, along with Brazil and South Korea, 澳洲幸运5官方开奖结果体彩网:send the most steel to the U.S.

It's the latest development in the Trump administration's campaign for trade policy changes. Last Tuesday, the White House 澳洲幸运5官方开奖结果体彩网:levied a broad 10% tariff on imports from China.

What's Next in the Tariff Saga

Trump also said "reciprocal tariffs" on any country that taxes goods from the U.S. will be enacted later this week. That echoes comments made last week by the U.S. trade representative nominee 澳洲幸运5官方开奖结果体彩网:during his confirmation hearing.

Economists and analysts also expect that, based on the president's past comments, tariffs on automobiles could soon be levied. Those tariffs could target one country or broad, like the steel tariffs.

The White House wants to raise more revenue for the country and close trade deficits, which it says will generate more money and business activity in the U.S. Most economists say broad tariffs will 澳洲幸运5官方开奖结果体彩网:cost households more money and 澳洲幸运5官方开奖结果体彩网:could endanger trade-related jobs, which would cause the Federal Reserve to keep its influential federal funds rate 澳洲幸运5官方开奖结果体彩网:higher for longer.

On Monday, Deutsche Bank calculated that if the delayed Canada and Mexico tariffs go into effect and Trump enacts reciprocal tariffs, those, along with the Chinese and steel tariffs, could push inflation above 3.5%. That measure is currently 2.8%.

Update, Feb. 11, 2025: This article was updated to include additional information from the White House.