President Trump’s sweeping tariffs on steel and aluminum imports have taken effect. Capone Iron Corporation President Stephen Capone says the move may actually help his business compete with its Canadian counterparts.

Bottles of Champagne are for sale at a wine dealer shop as President Donald Trump threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey, Thursday, March 13, 2025 in Ville d'Avray, outside Paris.

Bottles Champagne are for sale at a wine dealer shop as President Donald Trump threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey, Thursday, March 13, 2025 in Ville d'Avray, outside Paris. (AP Photo/Christophe Ena) AP

Canada and Mexico A 25% import tariff on goods from Mexico and Canada took effect March 4, with an exception for energy products and potash, which received a 10% tariff. The next day, the Trump administration suspended those tariffs until April 2 for autos eligible for duty-free trade under the U.