President Donald Trump seems to be getting ready to reduce some of the steel and aluminum tariffs, as rising costs are troubling voters with the midterm elections approaching in November.
Last summer, he imposed tariffs as high as 50% on steel and aluminum imports, and later extended these tariffs to related products, like washing machines and ovens.
The Financial Times reported that White House aides are looking into which items could be exempted and are halting further expansions of the tariff list.
Officials indicated that they will shift focus to a more specific national security review for deciding which tariffs will remain.
Some insiders acknowledged to the FT that managing the metals tariffs has become “too complex to enforce,” with the expansive inclusion process complicating regulation. This has led to an unwieldy list of goods subject to tariffs based on metal content, causing frustration for regulators.
The current system has led to administrative slowdowns and mixed outcomes, with nearly 100 recent applications for tariffs on various products like bicycles and cake tins. There’s growing pressure within the administration to simplify the system and narrow its focus.
The newspaper has reached out to the White House for comment.
The tariffs have significantly impacted the automotive industry, straining operations for both Detroit firms and foreign manufacturers in the U.S.
Ford absorbed around $1 billion in costs related to tariffs in 2025, while GM faced an even larger $3.5 billion loss, including $1.1 billion from its second-quarter operating profit alone.
Foreign brands experienced even more severe effects.
Mercedes-Benz anticipated a sales drop of 9.2% and nearly a halved profit, while Honda projected a 42% decrease in profit and Toyota foresaw a 25% reduction in net profit.
Sticker prices didn’t see an immediate spike (the average price of a new car reached a record $50,326 in December), as automakers were willing to absorb costs to maintain market share. However, analysts suggest this strategy will wane in 2026 as the companies start shifting a larger portion of the tariff burden onto consumers.
The FT noted that tariffs have contributed to rising consumer prices, increasing public frustration with the economy.
A recent Pew Research Center poll showed that more than 70% of U.S. adults view economic conditions as fair or poor, with 52% attributing worsening conditions to President Trump’s economic policies.
A study from the New York Fed revealed that U.S. businesses and consumers bore nearly 90% of the tariffs’ costs last year, contradicting the president’s assertion that foreign exporters would shoulder the burden.
The White House is contemplating whether reducing some metal tariffs could ease voters’ worries about the cost of living ahead of the November elections.
President Trump’s enforcement of tariffs has increased average U.S. import duties from around 2.6% to approximately 13% this year, representing the highest level in decades and provoking scrutiny from lawmakers across party lines.
A number of House Republicans recently sided with Democrats to support a bill aimed at repealing tariffs on Canada, which President Trump is likely to veto.
Additionally, a Supreme Court ruling related to a case that challenges the president’s authority on certain tariffs is anticipated soon, adding further legal uncertainty as the White House deliberates on potential tariff relief to appease voter discontent ahead of the midterm elections.
