Trump To Roll Back Some Steel And Aluminum Tariffs Due To Inflation

[looking at my half-done aluminum plant that I built with the understanding that there would be protections from foreign imports] sigh, he got me again https://t.co/XHaKEB4RL3
— Matt Bruenig (@MattBruenig) February 13, 2026

The FT is paywalled but there is some US reporting.

Trump Trade Team Working to Narrow Scope of Metals Tariffs

Bloomberg reports Trump Trade Team Working to Narrow Scope of Metals Tariffs

The Trump administration is working to narrow its broad tariffs on steel and aluminum products that companies find difficult to calculate and the European Union wants reined in as part of its pending trade deal with the US, a person familiar with the matter said.

The Office of the US Trade Representative is scrambling to resolve complications spawned last year by the Commerce Department’s efforts to rush out President Donald Trump’s tariff agenda, the person said.

The White House has communicated to companies that adjustments are in the works, but details and timing remain unclear, the person said.

The rollback plans were reported earlier by the Financial Times. Aluminum and other metals fell following the report, while shares of US steelmakers and aluminum producers sank.

The effort comes as Trump is grappling with low approval ratings on the economy from Americans who are anxious about the cost of living, a dynamic that poses a major political risk for his fellow Republicans in November’s midterm elections.

50% Levies

Trump last year imposed a 50% levy on foreign steel and aluminum in a measure aimed at Chinese overcapacity. The step wound up hitting other major trading partners hard, including Canada, the EU, Mexico and South Korea.

Later added to the list were so-called derivative products that contained the metals, creating an arduous task for companies to identify the percentage of the materials in goods they sourced from overseas.

US Trade Representative Jamieson Greer acknowledged two months ago that “there’s some complexity” with the derivatives tariffs and that he’s heard from “a lot of folks.”

Trump’s taxes on US imports have also come under increased scrutiny this week in Congress, where the House voted to roll back his duties on Canadian products. Separate reports by the Congressional Budget Office and the Federal Reserve Bank of New York said American consumers and businesses are shouldering most of the costs of his tariffs. That runs counter to the president’s repeated assertions that they’re paid by foreign exporters.

Trump Could Reduce Steel And Aluminum Tariffs And These Stocks Are Responding

Investor’s Business Daily reports Trump Could Reduce Steel And Aluminum Tariffs And These Stocks Are Responding

President Donald Trump is reportedly planning to reduce some steel and aluminum tariffs, according to a Financial Times article Friday. Several U.S.-listed steel and aluminum stocks fell at the stock market open on Friday.

Trump’s decision cut tariffs on some aluminum and steel goods comes as the president battles an affordability crisis, the Financial Times reports. The White House is currently reviewing products affected by the up-to-50% tariffs on steel and aluminum imports and plans to exempt some items and launch more targeted security probes into specific goods, according to the report.

Following the report, steel and aluminum producer stocks fell prior to regular stock market action on Friday.

Steelmakers Cleveland-Cliffs (CLF) and Nucor (NUE) declined more than 6% and 4%, respectively. Steel Dynamics (STLD) fell 5.3% in stock market trade.

Meanwhile, aluminum producer Century Aluminum (CENX) sank 11%. Alcoa (AA) declined around 4%.

Another TACO in the Works

This TACO was expected, and long overdue. Steel and especially aluminum tariffs are very damaging.