TechFlow news, according to Jinshi News, former U.S. President Trump signed an executive order on February 10 announcing a 25% tariff on all imported steel and aluminum products effective March 4, eliminating all previous exemptions and exclusions, while strengthening oversight of product classifications.
This policy expands the scope of the 2018 "Section 232" tariffs to include downstream products. Trump stated he would consider imposing tariffs on automobiles, semiconductors, and pharmaceuticals, and plans to hold relevant meetings within the next four weeks. Additionally, the new policy requires imported steel to be "melted and poured" in North America, and aluminum to be "smelted and cast" in the region. Affected by this news, spot gold prices broke through $2,920 per ounce, hitting a record high.
