The European Union estimates that the first wave of Donald Trump’s steel and aluminum tariffs will hit as much as €28 billion ($29.3 billion) of the bloc’s exports in what would be a massive escalation in the US president’s trade war.

President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States with no exceptions or exemptions.

President Trump on Monday ordered new tariffs on all steel and aluminum imports. Experts say some products could become pricier.

On Feb. 10, 2025, just a week after announcing country-specific, blanket tariffs on Canada, Mexico, and China, President Trump implemented his America First Trade Policy, signing two proclamations: Adjusting Imports of Steel Into the United States and Adjusting Imports of Aluminum Into the United States.

Construction firms are likely to feel the squeeze within months if the new fees on imported materials take effect in March.

“Any steel coming into the United States is going to have a 25% tariff,” he told reporters Sunday on Air Force One as he flew from Florida to New Orleans to attend the Super Bowl. When asked about aluminum, he responded, “aluminum, too” will be subject to the trade penalties.

Canada supplies roughly 60% to 70% of the imports that come into the U.S. market. Canadian suppliers like Rio Tinto produce high quality aluminum that is typically sold to stateside buyers.

President Donald Trump is preparing to formally announce 25% tariffs on steel and aluminum imports. It's part of an aggressive effort to remake the existing terms of world trade that so far has compounded economic uncertainty.