Trump plans to relax some tariffs on steel and aluminum

According to reports, U.S. President Donald Trump is planning to reduce the scope of tariffs on certain steel and aluminum products. Amid ongoing inflation and rising living costs, which are dragging down his approval ratings, and with midterm elections approaching, the White House is beginning to reassess related trade measures. Last summer, the Trump administration imposed tariffs of up to 50% on steel and aluminum imports and expanded the scope to include a variety of goods made from these metals, such as appliances like washing machines and ovens. However, according to three informed sources, the U.S. government is currently reviewing the list of products affected by the tariffs, planning to grant exemptions for some items, pause further expansion of the list, and instead initiate more targeted “national security” investigations into specific products. The sources said officials from the U.S. Department of Commerce and the Office of the U.S. Trade Representative believe these tariffs are driving up prices and harming consumer interests, with costs for everyday items like disposable aluminum pie pans and food and beverage cans rising significantly. The large-scale tariff increases initiated by Trump have pushed the overall U.S. tariff level to its highest point since before World War II. However, amid growing voter dissatisfaction with living costs, he has also repeatedly withdrawn or relaxed some of the tough tariff measures. (Sina Finance)