On February 11, 2025, President Trump issued a proclamation implementing tariffs on aluminum and derivative steel articles. The Proclamation effectively eliminated exemptions from tariffs for countries and territories, including Canada, Mexico, the European Union, the United Kingdom, Japan, and South Korea.

On February 10, 2025, President Trump issued a proclamation implementing tariffs on steel and derivative steel articles. Effective March 12, 2025, previous proclamations that exempted or adjusted tariffs on steel imports from various countries, including South Korea, Argentina, Australia, Brazil, Canada, Mexico, Japan, the United Kingdom, Ukraine, and the European Union, will be rescinded.

On February 12, 2025, the European Commission proposed shortening the settlement period for European Union transactions in transferable securities from two business days (T+2) after the date of trade (T) to one business day (T+1).