Danielle Kurtzleben

Well, American importers will now be paying a 25 percent tax on steel and aluminum, and that makes these tariffs a lot like some you might remember him imposing during his first term, except this time the aluminum rate is higher. It was 10 percent back then.

Well, American importers will now be paying a 25 percent tax on steel and aluminum, and that makes these tariffs a lot like some you might remember him imposing during his first term, except this time the aluminum rate is higher. It was 10 percent back then.

Well, American importers will now be paying a 25 percent tax on steel and aluminum, and that makes these tariffs a lot like some you might remember him imposing during his first term, except this time the aluminum rate is higher. It was 10 percent back then.

In doing this, the administration has stressed they're trying to use these tariffs to stick it to China, which is the world's biggest steel exporter. Now, the U.S. doesn't actually get much steel or aluminum directly from China, but the White House argues that Chinese steel makes it into the U.S. by being sold through other countries.

In doing this, the administration has stressed they're trying to use these tariffs to stick it to China, which is the world's biggest steel exporter. Now, the U.S. doesn't actually get much steel or aluminum directly from China, but the White House argues that Chinese steel makes it into the U.S. by being sold through other countries.

In doing this, the administration has stressed they're trying to use these tariffs to stick it to China, which is the world's biggest steel exporter. Now, the U.S. doesn't actually get much steel or aluminum directly from China, but the White House argues that Chinese steel makes it into the U.S. by being sold through other countries.

Well, the U.S. gets by far the most of its aluminum imports from Canada, according to data compiled by Reuters. And on steel, Canada is also first. And there are other allies on that list, like Mexico and South Korea. You might notice that in all those countries I mentioned, Canada and Mexico feature prominently.

Well, the U.S. gets by far the most of its aluminum imports from Canada, according to data compiled by Reuters. And on steel, Canada is also first. And there are other allies on that list, like Mexico and South Korea. You might notice that in all those countries I mentioned, Canada and Mexico feature prominently.

Well, the U.S. gets by far the most of its aluminum imports from Canada, according to data compiled by Reuters. And on steel, Canada is also first. And there are other allies on that list, like Mexico and South Korea. You might notice that in all those countries I mentioned, Canada and Mexico feature prominently.

Trump had recently threatened tariffs on them and then paused them at the last minute. Well, with this new announcement, he's putting tariffs on those two countries anyway, just not on all of their goods. And that gets to one really important thing about these tariffs. There are no exceptions to these. And that's different from Trump's tariffs last time around.

Trump had recently threatened tariffs on them and then paused them at the last minute. Well, with this new announcement, he's putting tariffs on those two countries anyway, just not on all of their goods. And that gets to one really important thing about these tariffs. There are no exceptions to these. And that's different from Trump's tariffs last time around.

Trump had recently threatened tariffs on them and then paused them at the last minute. Well, with this new announcement, he's putting tariffs on those two countries anyway, just not on all of their goods. And that gets to one really important thing about these tariffs. There are no exceptions to these. And that's different from Trump's tariffs last time around.

It's also different from how Biden treated tariffs. Both of them had carve outs on tariffs for some allies, but not now.

It's also different from how Biden treated tariffs. Both of them had carve outs on tariffs for some allies, but not now.

It's also different from how Biden treated tariffs. Both of them had carve outs on tariffs for some allies, but not now.

Well, in the near term, this should be good for American steel and aluminum companies because tariffs raise the price of steel and aluminum and they protect against some foreign competition. And markets seemed to think so yesterday. Shares of Alcoa, an American aluminum company, and U.S. steel were both up. But that doesn't mean this is great for the rest of the economy.

Well, in the near term, this should be good for American steel and aluminum companies because tariffs raise the price of steel and aluminum and they protect against some foreign competition. And markets seemed to think so yesterday. Shares of Alcoa, an American aluminum company, and U.S. steel were both up. But that doesn't mean this is great for the rest of the economy.

Well, in the near term, this should be good for American steel and aluminum companies because tariffs raise the price of steel and aluminum and they protect against some foreign competition. And markets seemed to think so yesterday. Shares of Alcoa, an American aluminum company, and U.S. steel were both up. But that doesn't mean this is great for the rest of the economy.

I talked to Gary Huffbauer, a senior fellow at the Peterson Institute for International Economics. He told me that industries that use those metals, like aircraft and auto manufacturing, also bridge construction, those could lose jobs.

I talked to Gary Huffbauer, a senior fellow at the Peterson Institute for International Economics. He told me that industries that use those metals, like aircraft and auto manufacturing, also bridge construction, those could lose jobs.