President Donald Trump is planning to scale back some tariffs on steel and aluminum goods, according to reports surfacing Friday, a move that signals a potential shift in his administration’s trade policies. The Financial Times first reported the planned rollback, citing individuals familiar with the matter, and Reuters subsequently confirmed the development.
The potential easing of tariffs comes as the Trump administration faces increasing pressure related to affordability concerns ahead of the November midterm elections. The move appears to be a response to rising costs for consumers and businesses, which have been partially attributed to the tariffs imposed on imported metals.
Earlier this year, President Trump strengthened Section 232 tariffs on steel and aluminum, increasing the tariff rate to 50% from 25%, a decision widely praised by the American steel and aluminum industries. A White House fact sheet released in June 2025 stated the increase was intended to protect these industries from “unfair trade practices and global excess capacity.” The tariffs applied to the steel and aluminum content of imported products, with stricter reporting requirements and penalties for false declarations.
However, the planned rollback suggests a reassessment of the strategy. While the White House has not officially confirmed the reports, dismissing them as “speculation” until an official announcement, the potential for reduced tariffs has already impacted financial markets. Reports indicate that steel and aluminum stocks have fallen, while automakers have seen gains.
The tariffs on steel and aluminum imports from the United Kingdom are currently set to remain at 25%, with potential changes or quotas scheduled to be evaluated starting July 9, 2025, contingent on the progress of the U.S.-UK Economic Prosperity Deal. The administration has maintained its authority under Section 232 of the Trade Expansion Act of 1962 to adjust imports deemed to threaten national security.
The timing of this potential policy shift is notable, as it coincides with a period of economic sensitivity leading up to the midterm elections. The administration is attempting to address concerns about rising prices, and easing tariffs on metals could be presented as a measure to lower costs for consumers, and businesses. As of February 17, 2026, the White House has not issued a formal statement beyond characterizing reports of a rollback as speculative.
