US EditionTrump tells US steelworkers he’s going to double tariffs on foreign steel from 25% to 50%
- President Donald Trump revealed in West Mifflin, Pennsylvania, that the tariffs on imported steel and aluminum will be raised to 50%, effectively doubling the current rates.
- Trump initially imposed 25% steel tariffs in 2018 using Section 232 for national security, and recent industry requests influenced his decision to raise them further.
- Trump spoke at U.S. Steel’s Mon Valley Works plant, celebrating a deal under which Japan’s Nippon Steel will invest billions in U.S. Steel, a Pittsburgh-based company.
- By early 2025, the price of steel in the United States had risen to $984 per metric ton, far exceeding Europe's rate of $690, with experts attributing the stronger domestic steel sector to tariffs implemented during the previous administration.
- The tariff increase aims to protect American steelworkers and industry, but it may raise metal prices and face opposition from Canada and some U.S. Steel unions.
205 Articles
205 Articles
News24 | Market fall-out as Trump doubles steel, aluminium tariffs
Shares in South Korean and Vietnamese steelmakers, major Asian exporters of the metal to the United States, dropped on Monday after US President Donald Trump said he would double tariffs on imported steel and aluminium to 50%.
Australia’s BlueScope surges on Trump’s plan to double tariffs on steel imports
By Nikita Maria Jino (Reuters) -Shares of Australian steel producer BlueScope Steel jumped on Monday to a more than three-month high after U.S. President Donald Trump said he planned to double tariffs on imported steel. Shares of BlueScope, which operates five businesses in North America including the North Star mill in Ohio, were up as much as 9.4% at A$24.88 in early trade. The stock was among the top performers in the broader ASX 200 benchmar…
Sydney Morning Herald
Why did Trump double his steel tariffs? Because he could
With Supreme court shutting down some of the Trump administration’s reciprocal tariffs on steel and aluminium, the desire to remind everyone who is in charge may well be all Trump needed for Friday’s announcement that he was doubling the tariffs
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