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The administration of U.S. President Donald Trump is denying media reports that it is planning to reduce tariffs on steel and aluminum imports.

In an interview, Peter Navarro, a White House advisor on trade, said there is "no basis in fact" for the reports that steel and aluminum tariffs will be lowered.

Navarro added that steel and aluminum are "sacred" to the Trump administration and that it maintains a "no exemptions, no exclusions" rule on those tariffs.

Despite the denials, media reports persist that Trump is considering changing his trade policies related to metals in the lead-up to the midterm Congressional elections this autumn.

In March 2025, Trump imposed 25% tariffs on most imported steel and aluminum into the U.S., which doubled to 50% last June.

The tariffs on steel and aluminum have negatively impacted major U.S. trading partners such as Canada, Mexico, and the European Union (EU).

Canadian steel and aluminum producers such as Stelco and Alcoa (NYSE: $AA ) have said that the tariffs mean that the U.S. market is essentially closed to them.

However, economists and critics of the U.S. tariffs claim they are leading to higher prices for American products ranging from motor vehicles to new homes.

With many U.S. consumers struggling financially, the Trump administration is said to be considering lowering its steel and aluminum tariffs ahead of the midterm elections.