Trump’s Metals Duties Have Small Impact, Big Complications

China 2524 European Union 625 Japan 504 Materials - Metals/Mining 614 Metals - Aluminum 190 Metals - Steel 427 South Korea 492 Tariffs 1612 U.S. 4464

The section 232 national security tariffs applied to U.S. steel and aluminum imports by the administration of President Donald Trump may only have had a minor effect on the value of imports. Total imports of the metals covered fell by just 7.0% in the third quarter vs. the second quarter and by just 1.7% vs. the first quarter. They’ve also proven controversial in the context of attempts to sign the U.S.-Mexico-Canada Agreement (USMCA) after Canadian exports fell 20.6% and Mexico’s by 9.5% in the third quarter sequentially. The duties may also hinder trade discussions with Japan and the E...

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