FT: Trump plans to ease steel, aluminium tariffs ahead of midterms

US President Donald Trump is reportedly preparing to roll back some tariffs on steel and aluminium imports as the country approaches its midterm elections, Financial Times reports.

Officials from the US Department of Commerce and the Office of the US Trade Representative have highlighted that the high tariffs have contributed to rising consumer prices, placing a burden on households.

With voters increasingly concerned about the cost of living, analysts say the issue is expected to become a key factor in the November elections.

Trump originally imposed tariffs of up to 50% on steel and aluminium in 2025, using them as leverage in trade negotiations.

The administration is now reviewing the list of goods subject to these duties, with plans to exempt certain items, halt expansions of the tariff list, and focus targeted investigations on products deemed a national security risk.

Last year, the US Commerce Department expanded tariffs to more than 400 goods, including wind turbines, mobile cranes, household appliances, bulldozers, railway wagons, motorcycles, ship engines, and furniture.

Recently, Trump showcased his economic record in Detroit, emphasising efforts to support domestic manufacturing and curb rising consumer costs. The White House is keen to demonstrate that it is actively addressing economic issues that directly affect American citizens.

By Aghakazim Guliyev