Trump raises steel import tariffs to 50 percent
According to a report by webangah News Agency, U.S. President Donald Trump announced on Friday that he woudl raise tariffs on steel imports to 50%-double the current rate.
Speaking at the U.S. Steel facility in West Mifflin, Pennsylvania, Trump told cheering workers that the increase aims to protect American steel industry jobs: “We’re going from 25% to 50%. These tariffs will strengthen our steel industry like never before. Nobody gets through this wall.”
The president revealed he initially considered a 40% hike but was persuaded by steel executives to implement the higher rate: “At 25%, they could still find ways around it.At 50%, nobody gets through.”
On his Truth Social platform, Trump confirmed the new rates would take effect Wednesday, june 4, writing: “Proud to announce steel and aluminum tariffs rising from 25% to 50%. Our industries are coming back stronger than ever-this is another giant leap for our incredible workers!”
The move follows trump’s March 12 imposition of sweeping 25% tariffs on all steel and aluminum imports, which drew sharp criticism from Canada and alarmed U.S. automakers. While the EU initially threatened retaliation, it ultimately declined reciprocal measures.
Trump framed Friday’s decision as saving America’s steel industry: “Without these tariffs, our factories would have closed wholly.” However, economists warn the protectionist measures may raise material costs for construction and manufacturing sectors despite revitalizing domestic production.
As March’s tariff announcement,U.S. steel prices have risen due to reduced foreign competition.
