The implementation of a 25% customs duty on steel and aluminum imports by President Trump has come into effect.

President Donald Trump’s tariff decision on US steel and aluminum imports has been put into effect. This decision was made at a time when concerns were raised about its potential impact on the US economy. In addition to these tariffs, Trump, who has imposed separate tariffs on Canada, Mexico, and China, is planning to introduce reciprocal taxes on trading partners such as the European Union (EU), Brazil, and South Korea starting from April 2. Trump, in a meeting with prominent figures from the business world yesterday, argued that the higher the tariff, the more likely companies are to invest in the US. Despite an 8% drop in the S&P 500 index in the past month, Trump had stated, “The greatest benefit is when they come to our country and produce. It is a bigger benefit than the tariffs themselves, but the tariffs will also bring a lot of money to this country.” The ADDITIONAL TARIFFS FOR TWO NEIGHBORING COUNTRIES The additional 25% customs duty imposed on products imported from Canada and Mexico had started on March 4. Trump then announced that they would not apply customs duties on products covered by the “United States-Mexico-Canada Agreement (USMCA)” to these countries until April 2. President Donald Trump had announced that the additional tariffs on US steel and aluminum imports would also come into effect on March 12.