President Donald Trump has already made plenty of headlines since taking up his second term in the White House, including the announcement of numerous new tariffs on imports.
The 47th United States President issued three executive orders on February 1, just days after his inauguration, which directed the US to impose an additional 25% ad valorem rate of duty on imports from Canada and Mexico, as well as 10% on imports from China.
Excluding Canadian energy resources exports – which instead will be hit with a 10% tariff – the tariffs have been applied to all imports which are either entered for consumption or withdrawn from warehouse for consumption on or after 12:01am Eastern Standard Time on Feb. 4, 2025.
President Trump also told reporters on February 8, 2025 that a 25% tariff on all American steel and aluminum imports was coming into effect across the US during February.
Leading 40ft shipping container supplier Cleveland Containers has analyzed the early reactions to these announcements and how President Trump’s second term as US President could affect the world’s shipping industry, especially when looking back at his first term. Mexico, Canada and China were all quick to react to President Trump’s announcement of tariffs on imports. Mexican President Claudia Sheinbaum said her country would vow for resilience against the measures, while a senior government official in Canada said that their country would challenge the decision by taking legal action through the necessary international bodies.
China has also said it would be challenging the tariffs at the World Trade Organization. According to the country’s Finance Ministry, as reported on by Geopolitical Intelligence Services, Beijing were moving to place levies of 15% on American coal and liquefied natural gas, as well as levies of 10% on crude oil, certain vehicles and farm equipment.
When it comes to the announcement of the tariff on all American steel and aluminum imports, President Trump told reporters in the Oval Office: «This is a big deal, the beginning of making America rich again. Our nation requires steel and aluminum to be made in America, not in foreign lands.”
– Coatings World
