Trump imposes 25% tariffs on all steel and aluminum imports

US President Donald Trump has imposed 25 percent tariffs on all steel and aluminum products entering the United States, threatening to escalate the trade war that has shaken markets around the world.

Trump has decided to increase US tariffs on aluminum to 25 percent, up from the previous 10 percent tariff, and has canceled agreements on quotas or other specific exemptions for both metals.

The White House has confirmed that the measures will take effect from March 4.

The tariffs will apply to millions of tons of steel and aluminum imports from Canada, Brazil, Mexico and South Korea, as well as other countries whose goods entered the US without any additional taxes.

Trump told reporters at the White House that this decision will only simplify tariffs on metals.

"It's a 25 percent tariff, without any exceptions. For all countries, no matter where they are, for all countries," he said.

Trump later said he would consider Australia's request for an exemption from tariffs on steel products, due to its trade deficit with the US.

Government and industry statistics show that Canada, Brazil, Mexico and South Korea are the countries from which the most steel is imported into the US.

Canada accounts for 80 percent of U.S. aluminum imports.

Trump has told reporters that on February 11th or 12th he will announce "reciprocal tariffs" against countries that have already imposed tariffs on American products.

"If they put tariffs of 130 percent, and we put nothing on them, it won't be like that anymore," Trump said.

Trump's trade adviser, Peter Navarro, has said the latest measures will help American steel and aluminum producers, boost US trade and national security.

"This is not just about trade. It's about ensuring that America is never again dependent on foreign countries for critical industries like steel and aluminum."

Experts have said that the tariffs will affect the entire world economy.

On February 3, Trump warned Americans that economic measures could hit them hard, after deciding to impose trade tariffs on Canada, Mexico, and China - the US's three largest trading partners.

He later decided to suspend measures against Canada and Mexico for 30 days, and said that the leaders of the two countries had pledged stronger trade measures, with the aim of stopping illegal migration and the entry of illegal drugs into American soil.

The US president has also threatened to impose tariffs on European Union goods, saying that something like this will happen very soon.

He has suggested that the UK could also be targeted by tariffs.

Trump has been complaining for some time about the EU's 10 percent tariffs on American cars, while the American tariff on European cars is 2.5 percent, although the tariff also depends on the type of car.

French President Emmanuel Macron said on February 9 that US tariffs on Europe would increase inflation in the US, and told American television network CNN that Trump should not focus on America's allies within the EU.

Stock markets were disrupted after Trump imposed initial tariffs against Canada, Mexico and China, but later calmed down after he expressed a willingness to negotiate the measures.