Posted on 03 Mar 2025
U.S. President Donald Trump announced on February 27 that he would impose an additional 10% tariff on Chinese imports. This new levy, combined with the 10% tariff that took effect on February 4, will result in a cumulative 20% tariff on Chinese products including steel, Mysteel Global learned.
However, Chinese steel products face a significantly higher tariff burden than the 20% figure suggests. In fact, total U.S. tariffs on Chinese steel now reach 70%, Mysteel Global understood. "This is excessive," said industry insiders in China.
On February 11, Trump reinstated a 25% tariff on steel imports, a measure he originally imposed during his first term in 2018. This time, the tariff will apply without exceptions or exemptions, as Mysteel Global reported. The tariffs, which will affect steel imports from all countries including China, are set to take effect on March 12.
The U.S. had previously imposed a 25% duty on steel originating from China on September 13 2024, which took effect on September 27 of the same year, as reported.
Although many of these tariffs have not yet been implemented, the ongoing tariff threats from the U.S. have cast a shadow over global trade, with market participants expressing concerns about the escalating trade frictions, Mysteel Global noted.
In late February, China's largest steel importers -- Vietnam and South Korea -- both announced anti-dumping measures on Chinese steel, as Mysteel Global reported.
On Thursday, Trump also stated that his proposed 25% tariffs on goods from Mexico and Canada will take effect on March 4.
Source:Mysteel Global
