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* Trump amends original executive order to raise tariff rate on China to 20%
* Tariffs on Canada include 10% carve out for energy and critical minerals

The US will impose 20% tariffs on all imports from China and 25% tariffs on all Canadian and Mexican imports, save for a 10% tariff rate on Canadian energy and critical minerals, US President Donald Trump said on March 3.
Trump originally ordered tariffs on the US’s three largest trading partners on Feb. 1. Negotiations with Canada and Mexico led to the imposition of the tariffs being delayed by one month. Trump had initially ordered 10% tariffs on all imports from China, but on March 3 amended the executive order to double the duty rate.
According to the executive order on tariffs for China, the rate was raised to 20% because China has not taken adequate steps to alleviate the illicit drug crisis, which includes the flow of synthetic opioids to the US.
The new tariffs are set to take effect March 4.
The three countries are major suppliers of metals and minerals to the US, accounting for 46% of the total value of US aluminum, steel, iron, and base metals imports in 2024, according to S&P Global Market Intelligence’s Global Trade Atlas.
The 10% rate on Canadian energy includes uranium, coal, and critical minerals. The United States Geological Survey’s list identifies 50 critical minerals, which include aluminum, graphite, and lithium.
Canadian producers of aluminum and battery metals have said they will redirect trade flows to other markets, which could result in a significant loss of supply for US buyers.
The US aluminum sector, in particular, has stressed the importance of Canadian and Mexican supply to its industry. Canada supplies about two-thirds of the primary aluminum consumed by the US, and about 90% of US scrap imports come from Canada and Mexico, according to the Aluminum Association, a US-based trade group.
Canadian miners told Platts, part of S&P Global Commodity Insights, that they can easily find alternative markets for their products.