President Donald Trump has kicked off his second term with a bold tariff policy that is shaking up global trade.
After imposing a 10 percent additional tariff on Chinese goods to address the fentanyl crisis, the president took another step by imposing a 25 percent tariff on steel and aluminum imports.
While this move has raised concerns among America’s trading partners, including the European Union, it has been met with praise from domestic metal producers and labor groups. Meanwhile, some economists have raised concerns about the potential inflationary effects of the tariffs.
The tariffs are set to take effect on March 4.
Here are five key takeaways from Trump’s steel and aluminum tariff order.
1. Countries Most Affected by New Tariffs
Canada, the largest supplier of steel and aluminum to the United States, will be the most affected by the new tariffs.
In 2024, top steel suppliers to the United States were Canada, Brazil, Mexico, South Korea, and Vietnam. And the leading aluminum suppliers were Canada, the UAE, and Mexico.
During his first term, Trump imposed a 25 percent tariff on steel and a 10 percent tariff on aluminum. While he later granted exemptions to several trading partners, including Canada, Mexico, and Brazil, he kept the tariffs in place for China.
Both the Trump and Biden administrations have accused China of dumping cheap steel on the global market. In May 2024, Biden further raised tariffs on Chinese steel and aluminum to reduce exposure to dumping and protect U.S. producers. […]
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
