Western media reports on Friday indicated that US President Donald Trump is seriously considering reducing some tariffs imposed on steel and aluminum imports, in a strategic shift aimed at easing the economic burden on the American consumer.
News agencies quoted informed sources as saying that this new approach stems from recommendations and internal discussions between officials at the Department of Commerce and the Office of the U.S. Trade Representative. These officials believe that the current tariffs, originally intended to protect domestic industry, have directly contributed to rising prices for a number of essential consumer goods .
Impact of fees on prices and consumers
Reports indicate that the inflationary impact of the tariffs has affected everyday products, including baking molds and food and beverage containers. The increased cost of raw materials (steel and aluminum) has driven up production costs for American factories that rely on these metals, ultimately passing the burden on to the end consumer at a time when the economy is already experiencing inflationary pressures.
Political motives and midterm elections
This economic move cannot be separated from the current political context in the United States; it comes at a time when voters are increasingly concerned about rising prices and the cost of living. With the midterm elections in November, the White House is seeking to take concrete steps to quell public discontent and improve the Republican Party's electoral prospects.
In this context, a recent poll showed a decline in the current administration's popularity regarding the economy, with only 30% of Americans expressing support for Trump's handling of the cost of living, compared to 59% who oppose it. This disapproval includes a majority of Democrats and a significant portion of Republicans, which should serve as a warning sign for the current administration.
Background of the trade war and its effects
It is worth noting that President Trump imposed high tariffs last year, reaching as high as 50% in some cases, on steel and aluminum imports. These tariffs were used as a key bargaining chip in his trade negotiations with several international trading partners, including China and the European Union, under the banner of "America First" to protect American heavy industries.
Economic observers believe that a potential rollback of these fees could have several positive effects, including:
- Locally: Lowering production costs for American manufacturers of cars, household appliances, and canned food, which may lead to lower prices in the markets.
- Internationally: Easing trade tensions with allies and economic partners, which could open the door to smoother and more stable trade negotiations in global markets.
