By mid-2019, the tariffs were lifted for Canadian and Mexican imports, which accounted for 27% of the U.S.’s steel imports and 43% of its aluminum imports. The Biden administration later ended tariffs on European Union metals in 2021, amid record-high steel prices fueled by COVID-19 supply chain disruptions.

President Donald Trump says he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada, escalating a trade war with the United States’ northern neighbor and showing an indifference to recent stock market turmoil and rising recession risks.