The United States is set to double its tariffs on imported steel and aluminum, a decision announced by the White House and signed into effect by President Donald Trump. This latest development takes the levies on both metals from 25% to 50%, marking a significant escalation in the ongoing trade disputes.
- Advertisement -
While tariffs on steel and aluminum from the UK will remain unchanged at 25%, both nations are in discussions to establish duties and quotas aligned with their existing trade agreement. The objective behind this move is to “more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States,” as highlighted in the order. Importantly, these lower prices are seen as detrimental to the competitiveness of U.S. industries.
President Trump made the announcement during a visit to a U.S. Steel plant in Pennsylvania last week, stating emphatically, “Nobody is going to be able to steal your industry.” He elaborated, “At 25%, they can sort of get over that fence. At 50%, they can no longer get over the fence.”
However, this decision has intensified tensions with key U.S. trading partners. The European Union, for instance, expressed its readiness to retaliate against these levies, arguing that the abrupt announcement “undermines ongoing efforts to reach a negotiated solution” between the bloc and the U.S.
Following Trump’s imposition of sweeping 10% tariffs on nearly all partners back in April—and the announcement of even steeper rates for dozens of countries—Washington finds itself in active negotiations. While the increased tariffs have been temporarily paused during these discussions, the respite is set to expire in early July, creating a sense of urgency to finalize trade agreements.
Since taking office in January, Trump has applied substantial tariffs on both allies and adversaries alike, a strategy that has indeed unsettled financial markets. These measures aren’t limited to steel and aluminum; the administration has also imposed tariffs on sector-specific imports, including automobiles.
As the situation continues to evolve, the global economic landscape remains under scrutiny, leaving many to wonder what the future holds for international trade relationships.
Edited By Ali Musa
Axadle Times International – Monitoring.
