(Bloomberg) — US Commerce Secretary Howard Lutnick signaled he doesn’t expect a reprieve on 25% tariffs for steel and aluminum imports scheduled to take effect on Wednesday.
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The levies, ordered by President Donald Trump in February, include imports from Canada and Mexico — which are among the top foreign suppliers — and apply to finished metal products, too. US steelmakers have urged Trump to resist exemptions to the tariffs, which risk hitting US companies that use aluminum and steel.
Administration officials have said the policy is aimed at cracking down on efforts by countries including Russia and China to bypass existing duties. Trump’s tariff policy, marked by hasty rollouts followed by reversals and delays, have sowed confusion and injected chaos into financial markets.
Asked on NBC’s Meet the Press whether the steel and aluminum tariffs will take effect March 12 as announced, Lutnick said, “Yes.”
Last week, Trump imposed sweeping tariffs on imports from Canada and Mexico but later walked back some of the changes — offering a one-month reprieve to automakers and then expanding that pause to all imported goods covered by the free-trade agreement between the US, Canada and Mexico, known as the USMCA.
That relief will last until April 2, when the administration has said it plans to unveil plans for so-called reciprocal duties on nations around the world as well as sector-specific levies.
Lutnick said Trump is using the tariffs against Mexico, Canada and China to prod the countries to stop the flow of undocumented migrants and illegal drugs into the US.
“If fentanyl ends, I think these will come off,” he said. “But if fentanyl does not end, or he’s uncertain about it, they will stay this way until he is comfortable.”
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