U.S. President Donald Trump is set to reduce tariffs on steel and aluminum imports, a move driven by rising domestic costs and declining approval ratings. The Financial Times reports the White House is reviewing the tariff list, which currently stands at approximately 50% on numerous metal products, with plans to exempt some items.

This shift aims to alleviate pressure on American businesses and consumers who absorbed nearly 90% of the tariff burden according to a recent New York Federal Reserve study. The administration is also considering a pivot towards targeted national security investigations instead of broad tariff expansions.