Trump considers scaling back trade levies on steel, aluminium in response to rising costs

The Trump administration is reportedly planning to roll back several of the steep steel and aluminum tariffs imposed in 2025. These major aims to improve public perception ahead of the November midterm elections and follows internal pressure regarding a domestic affordability crisis.

According to sources, the commerce department and US trade officials are of the view that tariffs have been affecting consumers substantially by driving up prices. The US administration is currently reviewing the list of products subject to these taxes and plans to exempt certain items.

Conversely, they will halt the expansion of the tariff list, opting instead for more targeted security investigations into specific goods. Despite his aggressive stance, Trump appears close to scaling back these levies after initially taking a big game. At present, this pivot seems designed-if not to appease the stock market, to ensure he still appears to be conciliating his voter base. The significant policy shifts reaffirm the perceived lack of a logical or consistent framework in the administration’s trade policy. This unpredictability may also explain why markets have been devaluing the dollar since last year.