US President Donald Trump’s team is reportedly considering reducing some tariffs on steel and aluminum products, according to an article in the newspaper Financial Times this Friday (13).
Between June and September last year, the White House announced tariffs of up to 50% on steel and aluminum imports and extended these taxes to a range of products made from these materials, including washing machines and ovens.
According to sources heard in the report, officials at the Department of Commerce and the Office of the US Trade Representative are preparing to ease these charges, under the argument that they harm consumers by increasing the prices of some products, such as cans of food and drinks.
Voters’ growing concern about rising consumer prices and the cost of living will influence the November midterm elections, which has been scrutinized by the Trump administration.
Since returning to power in January last year, the Republican has adopted a new tariff policy to pressure other countries to trade with the US, but has reversed this measure on several occasions.
Inflation data released this Friday shows that the consumer price index moderated in January to 2.4% year-on-year, three-tenths of a percentage point below December and slightly below forecasts. On a monthly basis, inflation rose 0.2% in the first month of 2026, after a 0.3% increase in December.
Treasury Secretary Scott Bessent confirmed in an interview with CNBC who discussed a possible reduction in tariffs on aluminum and steel with trade representative Jamieson Greer, but highlighted that no decision has been made to date.
“If anything is done, I think it would be some kind of clarification on some products, but that will be the president’s decision,” Bessent said.
