Trump signs executive order to impose new tariffs on steel, aluminum imports

As widely expected, U.S. President Donald Trump has raised steel and aluminum tariffs to 25%, bringing back his aggressive trade policies.

They'll be effective as of March 4th.

Our Park Kun-woo starts us off.

U.S. President Donald Trump signed an executive order at the White House on Monday to impose new 25% tariffs on steel and aluminum imports.

The move raised fears over the impact of an escalating trade war.

Canada, the country that exports the most steel and aluminum to the U.S., and another major steel and aluminum trading partner Mexico, are expected to be among the worst hit.

The same goes for Asian countries, including South Korea and China which are also among the largest trading partners, according to 2024 data from the U.S. Department of Commerce.

South Korea, ranked the U.S.' fourth largest steel and aluminum importer last year.

Trump's latest announcement follows plans revealed by the U.S. president the day before to set reciprocal tariffs on countries that tax U.S. imports.

Trump said those measures will be implemented in the next few days, adding that he is unconcerned about potential retaliation.

That prompted a strong warning from the European Union.

"We stand against unjustified barriers to free and fair trade. We will always take the necessary steps to protect our economic interests, as well as European businesses, workers and consumers from unjustified tariff measures."

While describing the tariffs as "unlawful and economically counter-productive," he also said the EU remains committed to constructive talks with the U.S. to find mutually beneficial solutions.

France's foreign minister also shared a strong response.

"It's not a surprise, it's what Donald Trump did already in 2018 and at the time we responded, so this time we'll respond again."

Trump also warned on Monday of the possibility of imposing tariffs on items including, automobiles and chips, exports that are critical to South Korea's economy.

Park Kun-woo, Arirang News.