Trump Plans to Roll Back Tariffs on Metal and Aluminium Goods
The US government has announced plans to scale back tariffs on metal and aluminium goods, which were imposed last year. The tariffs, of up to 50% on steel and aluminium imports, affected over 400 products, including wind turbines, mobile cranes, and furniture.
The decision to roll back the tariffs is expected to improve trade relationships with countries like Canada, Mexico, China, and the EU. Canada, in particular, is likely to see improved bilateral ties, as the tariffs were a major point of contention in the Canada-US-Mexico (CUSMA) renegotiations.
The move is also expected to provide consumer-price relief, with estimates suggesting a 0.5-1.2% decrease in prices for metal-based goods like cans and appliances. However, domestic manufacturers may face a trade-off, with lower input costs for downstream manufacturers but reduced protective margins for US steel and aluminium producers.
The announcement comes just weeks before the November 2026 mid-term elections, and is seen as a voter-appeal measure. According to a Reuters/Ipsos poll, only 30% of Americans approve of Trump’s handling of the cost-of-living issue, while 59% disapprove.