The Trump administration is considering scaling back tariffs on goods containing steel and aluminum, according to officials who acknowledged the possibility Friday, a move that could signal a shift in the administration’s trade policy amid ongoing concerns about inflation. The potential concession, outlined in a report by the Financial Times, would reduce tariffs on products ranging from ovens to drink cans.
Although the administration has not finalized any decisions, the possibility of tariff reductions represents the latest in a series of more than half a dozen moves to lower tariffs over the past three months, a departure from the more protectionist stance previously emphasized. These changes have included reductions in food tariffs and efforts to de-escalate trade tensions with various partners, though some new tariff plans have been implemented with exclusions considered too broad to significantly impact consumer costs.
The shift in approach comes after Republican election losses in November, where affordability emerged as a key political issue. Recent economic data suggests some impact from these changes, with politically sensitive food prices showing declines. The price of coffee, a specific area of focus for the White House, fell 0.9% between December and January, while beef and veal prices decreased by 0.4% over the same period. The Consumer Price Index showed a 0.2% increase in January.
The current tariffs, initially imposed in 2018 under Section 232 of the Trade Expansion Act, were justified on national security grounds, with the Commerce Secretary determining that steel and aluminum imports threatened U.S. Interests. These tariffs initially stood at 25% for steel and 10% for aluminum imports from most trading partners. In 2020, the Trump administration expanded the tariffs to encompass 13 additional product codes for steel and aluminum derivatives.
More recently, in June 2025, President Trump increased the tariffs on steel and aluminum to 50%, with the United Kingdom maintaining a 25% tariff rate and potential adjustments based on the U.S.-UK Economic Prosperity Deal. The administration as well implemented stricter reporting requirements for steel and aluminum content in imported products, with penalties for false declarations.
The potential rollback of some tariffs comes as aluminum prices have already begun to fall in response to the reports. Yet, the White House has characterized reports of a rollback as “speculation” unless officially announced. The administration has not indicated a timeline for any potential changes, and the future of the Section 232 tariffs remains uncertain.
