Donald Trump stated that he plans to raise tariffs on steel imports to 50% from next week, intensifying a trade war that has impacted global markets.
Speaking to steel workers in West Mifflin, Pennsylvania, the US president said tariffs would increase from 25% to 50%, asserting this would further safeguard the US steel industry.
Mr Trump later posted on Truth Social that new levies, also affecting aluminum imports, would take effect from Wednesday and said American “industries are thriving as never before.”
“This will be another BIG boost for our wonderful steel and aluminum workers,” he added. “MAKE AMERICA GREAT AGAIN!”
He then remarked, “We don’t want America’s future built with subpar steel from Shanghai—we want it built with the strength and the pride of Pittsburgh!”
The new levies will become effective on Wednesday, according to the US president. Pic: Reuters
Sky News understands that British steel exports are exempt from this increase after a UK-US trade agreement was signed earlier this month.
The agreement noted that the US “will promptly construct a quota at most favored nation (MFN) rates” for British steel, aluminum, and derivative products.
UK officials told Sky News that the latest tariff increase proves “why it was so crucial that the UK secured this deal”.
Read more: Key components of the UK-US ‘historic’ trade agreement
Earlier, the US president accused China of “completely violating” an agreement to mutually reduce tariffs and trade restrictions for critical minerals.
“So much for being Mr Nice Guy,” he stated on his social media platform.
In March, Mr Trump enforced a 25% tariff on all foreign steel and aluminum imports to protect US manufacturing and boost jobs by making imported products less attractive.
This move threatens to increase the cost of products using steel and aluminum, such as cars or soft drink cans, for American consumers.
He also previously threatened levies of up to 50% on Canada, while Ontario threatened to impose additional costs on power supplied to the US.
Canada’s largest province supplies electricity to more than 1.5 million American homes and businesses in Minnesota, New York, and Michigan.
Canadian Prime Minister Mark Carney referred to the proposed 50% tariffs as an “assault” on workers, families, and businesses in Canada.
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Approximately one-quarter of steel used in the US is imported, with the majority sourced from Mexico, Canada, Japan, South Korea, and Germany.
In 2024, the US imported 6.6 million tonnes of steel from Canada and 3.5 million tonnes from Mexico.
The US is also dependent on foreign imports for aluminum, with 3.2 million tonnes imported from Canada last year.
Source: https://news.sky.com/story/trump-to-double-tariffs-on-steel-imports-as-he-threatens-china-13377208
