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Expand chart
Note: Includes only products under the "Iron & Steel & Ferroalloy" and "Alumina & Aluminum & Processing" NAICS commodity classifications. Data: Census Bureau; Chart: Chris Canipe and Lazaro Gamio / Axios

The Trump administration has begun imposing tariffs on imports of steel and aluminum, but several countries are exempted temporarily until May 1, as shown in the chart above. The administration may still apply quotas on exempted countries to prevent a flood of foreign steel and aluminum in the U.S. market, per the White House.

Why it matters: After railroading past a number of his advisors, Trump announced the tariffs on imports of steel (at 25%) and aluminum (at 10%) earlier this month, citing national security concerns. But with the exemption noted above, the tariffs won't carry major bite, at least to start.

The exempted: The EU member countries, Argentina, Australia, Brazil, Canada, Mexico, and South Korea.

  • Why exempt them, per Trump: “Each of these countries has an important security relationship with the United States” and the best way forward is to continue conversations exempt them “at least at this time.” Trump left the door open for other countries to negotiate exemptions.

The response:

  • The EU was planning tit-for-tat tariffs on the U.S., and could have expanded them beyond steel and aluminum.
  • South Korea will seek new markets for steel, its trade minister had announced.
  • China announced reciprocal tariffs on $3 billion of imports from the U.S., including on fruit, pork, wine, seafood, and more than 100 other items.

Bottom line: The extent of the effect of the tariffs has yet to be set in stone — the exempted countries are still discussing with the administration what they will ultimately do about their exports to the U.S., and other countries still have the opportunity to either receive exemptions or hit back with reciprocal tariffs.

  • An administration official tells Axios the U.S. is indeed at this time “in discussions with several other countries" on this front.

Go deeper... Trade wars: The effect of Trump’s tariffs

Go deeper

Drought, record heat wave in West tied to climate change

People on Folsom Lake in Granite Bay, California, U.S., June 16, 2021. Photo: David Paul Morris/Bloomberg via Getty Images

The prolonged and widespread heat wave in the West, along with the region's increasingly severe drought, is a sign of how climate change has already tilted the odds in favor of such extremes, studies show.

Why it matters: The rapidly growing Southwest, in particular, is also the nation's fastest-warming region. The combination of heat and drought could lead to a repeat, or even eclipse, the severity of 2020's wildfire season in California and other states.

Ben Geman, author of Generate
3 hours ago - Energy & Environment

What to watch as infrastructure talks heat up

Illustration: Annelise Capossela/Axios

A mix of Beltway action and extreme weather events have brought the fault lines in infrastructure talks and their planetary stakes into sharper focus.

Catch up fast: Senate Democratic leaders pledged to seek big climate measures in a multitrillion-dollar, Democrats-only package that faces a very narrow political path.

Kendall Baker, author of Sports
4 hours ago - Sports

The sports stock market

Note: Michael Jordan's card is for baseball; Data: Alt; Table: Andrew Witherspoon/Axios

Shohei Ohtani's trading card value has risen 781% since the start of 2021, the highest year-to-date return of any athlete on Alt, a sports card exchange that aims to bring more liquidity to alternative assets.

Why it matters: The trading card market is the closest thing we have to a stock market for sports.

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