U.S. President Donald Trump has announced that the tariff on steel imports will be raised from 25% to 50%. The new rate will take effect on June 4, according to a statement made by Trump on his social media platform, Truth Social.
Calling the decision “a great honor,” Trump emphasized that this move is intended to further strengthen the U.S. steel and aluminum industries. He stated, “This will be more great and wonderful news for our amazing steel and aluminum workers,” suggesting that the sectors are bouncing back stronger than ever.
Previously, on February 10, Trump had signed executive orders imposing a 25% tariff on steel and aluminum imports, which officially came into force on March 12. Now, with this new action, he is doubling down on his protectionist trade policies by increasing the steel tariff to 50%.
The announcement has sparked new debate over U.S. trade policy, especially in the lead-up to the upcoming elections, and is expected to have significant impacts on both domestic industry and international trade relations.
