US President Donald Trump told reporters yesterday while on his way to the NFL Super Bowl that he will impose new 25% tariffs on all steel and aluminium US imports on 10th February.

The new metals tariffs are in addition to existing metals duties, which marks another escalation in the President's trade policy overhaul.

US President Donald Trump announced on Sunday that he will impose new 25% tariffs on all steel and aluminium US imports on 10th February.

The tariffs will apply to all countries and will be set at the same rate as the tariffs levied by each country on US imports. The tariffs will likely take effect immediately.

"And very simply, if they charge us, we charge them," Trump said regarding the reciprocal tariff plan.

Countries like Canada, Brazil, and Mexico, which are the largest sources of US steel imports, will face the highest impact of the new metals tariffs. Countries like Korea and Vietnam will also be affected by the new regulations. Canada is also the top supplier of primary aluminium to the US. Over 70% of total aluminium imports into the US were supplied by Canada in 2024.

"Canadian steel and aluminium support key industries in the US from defence, shipbuilding, and auto," Canadian Innovation Minister Francois-Philippe Champagne posted on X. "We will continue to stand up for Canada, our workers, and our industries."

Meanwhile, the government will let Japan's Nippon Steel invest in US Steel, but it won't be allowed to become a majority stake, Trump said. "Tariffs are going to make it very successful again, and I think it has good management," Trump said of US Steel.

During his first term, Trump imposed 25% tariffs on steel and 10% on aluminium. However, he later granted duty-free exemptions to several nations, including Canada, Mexico, and Brazil.

Trump Notified the Treasury To Stop Minting New Coins

Trump also highlighted on Sunday that he had directed Treasury Secretary Scott Bessent to pause the production of pennies, given the high cost of producing a one-cent coin.

"For far too long, the United States has minted pennies, which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nation's budget, even if it's a penny at a time," Trump said in a Truth Social post.

Last month, Elon Musk's Department of Government Efficiency posted on X, formerly Twitter, about the high costs of producing coins. "The penny costs over 3 cents to make and cost US taxpayers over £144.23 ($179 million) in FY2023."

The post also highlighted that the US Mint produced over 4.5 billion pennies in FY2023, almost 40% of the 11.4 billion coins for circulation.

In FY2024, the US Mint noted in its annual report that the US penny costs about 3.7 cents to produce and distribute, which is 20% more than the preceding year. The higher cost of producing pennies could be attributed to the rising cost of metals, including zinc and copper.