All steel coming into the USA will have a 25 percent tariff, Trump told reporters on Sunday on Air Force One when he flew from Florida to New Orleans to attend the Super Bowl, according to AP.
A formal announcement about the tariffs will be made on Monday, but Trump did not specify when the tariffs will take effect.
"Not going to stay that way"
Trump also confirmed that he will announce "reciprocal tariffs" – "probably on Tuesday or Wednesday" – which means that the USA will introduce import tariffs on products where other countries have imposed tariffs on American goods.
If they charge us 130 percent and we don't charge them anything, it's not going to stay that way, he said.
The tariffs on metals may affect the export-dependent Swedish steel and engineering industry.
Trade wars are always dangerous and almost always end with losers, said Rikard Forslid, economics professor at Stockholm University and expert on international trade, recently to TT.
The USA introduced tariffs of 10 percent on goods from China last week.
Beijing responds
Beijing has announced that it plans to introduce import tariffs of 10 percent on crude oil, agricultural machinery, and certain vehicles, as well as 15 percent on coal and natural gas. China's tariffs will take effect on Monday if no agreement is reached.
Regarding tariffs against Canada and Mexico, Trump has backed down. After speaking with the leaders of the two neighboring countries – Mexico's President Claudia Sheinbaum and Canada's Prime Minister Justin Trudeau – Trump decided to postpone the introduction for 30 days in exchange for promises of strengthened border control.
