The United States will impose a 25% tariff on steel and aluminum imports on March 4, according to the Executive Order signed yesterday, Monday, by US President Donald Trump, in what appears to be a clear attempt to pressure its trading partners, mostly allies. The US President justified the tariffs due to subsidies given by other countries to aluminum and steel production, specifically citing China and Russia as examples.
However, China accounts for only 2% of US steel imports, due to Trump's imposition of quotas and tariffs in 2018, which his successor Joe Biden maintained. As for aluminum, only 4% of what the US imports comes from China. The most affected is, precisely, the third-largest US trading partner, and a NATO ally, Canada, which accounts for 23% of steel exports and 58% of aluminum exports. This reveals the credibility of Trump's word, as just a week ago he decided to suspend the tariffs he had announced against Mexico and Canada.
No country in the world will be exempt from them, although Trump stated that he may exempt Australia, arguing that the country is going to buy US military aircraft. This explanation lacks logic, as the agreement between Canberra and Washington to acquire transport planes for the former's Armed Forces is over a year and a half old. In any case, the US will have to establish exceptions to the tariffs, as with these tariffs, its market will be virtually closed to imports but the country is unable to be self-sufficient.
The measure directly affects Spain, which exported 255 million euros in steel and 128.9 million in aluminum to the US in 2024. In total, the country imports around 48 billion euros in both products. Its dependence on imported aluminum is higher, as 82% of the metal consumed in the United States is imported. In the case of steel, the proportion drops to 17%.