Rollback of Metals Tariffs Eyed After House Rebuke

President Donald Trump is considering rolling back some tariffs on steel and aluminum as his administration confronts affordability concerns ahead of the midterm elections, Yahoo Finance reported.

The current 50% tariffs on steel and aluminum may soon include carve-outs similar to reductions previously granted on certain food imports.

The move follows a rare setback in the House of Representatives, where six Republicans joined Democrats to pass Joint Resolution 72, seeking to terminate the national emergency Trump declared last February to impose tariffs on Canada.

Trump had warned that Republicans opposing tariffs would “seriously suffer the consequences come Election time.”

According to The Financial Times, the current 50% tariffs on steel and aluminum may soon include carve-outs similar to reductions previously granted on certain food imports.

Trump has continued to threaten additional trade actions, including a proposed 50% tariff on Canadian aircraft imports and possible decertification of new jets from Bombardier.

He has also floated 100% tariffs over Canada’s trade deal with China.

Mexico could face new levies under plans to impose tariffs on countries supplying oil to Cuba. Meanwhile, confusion has emerged over a U.S.–India trade deal after the White House removed references to pulses in a revised statement.