US President Donald Trump has decided to impose a 25% tariff on steel and aluminum imports starting today.

Speaking to media representatives, he stated that he would also impose tariffs on goods imported from countries that have already levied tariffs on American products.

“If they are charging us a 130% tariff while we charge them nothing, we cannot continue in such a situation,” he remarked.

Previously, Trump had imposed a 10% tariff on China, while the 25% tariff on Canada and Mexico was postponed for 30 days at the last moment.

Since taking office last month, Trump has announced aggressive tax and tariff policies, which are expected to have significant impacts on global trade and the economy.

Meanwhile, in Pakistan, the Federal Board of Revenue (FBR) has extended the regulatory duty on the import of raw iron and steel until March 31.

According to the FBR, a 10% regulatory duty has been imposed on raw iron, while a 5% duty has been applied to steel products.

Traders have expressed concern that this duty has led to an increase of PKR 11,000 per ton in the price of raw iron and steel, bringing the per-ton price to PKR 262,000.