Trump Signs Order Doubling Tariffs on Steel and Aluminum [View all]
Source: Newsweek
Published Jun 03, 2025 at 5:08 PM EDT | Updated Jun 03, 2025 at 5:56 PM EDT
President Donald Trump has signed an executive order doubling tariffs on imported steel and aluminum to 50 percent, effective June 4, 2025.The move aims to protect U.S. national security by curbing what the administration describes as a threat from excessively low-priced metal imports that undermine domestic industries. Trump had said on May 30 that he would double tariffs as he announced that U.S. Steel would be allowed to merge with Japan's Nippon Steel.
Why It Matters
The order builds on previous tariffs imposed under Section 232 of the Trade Expansion Act, with officials citing the need to bolster American steel and aluminum production capacity for economic and defense reasons. Business leaders have previously expressed anxiety over the plan, warning of increased costs for industries including construction, automotive and transportation, machinery and equipment manufacturing, energy and utilities, as well as producers of appliances and consumer goods.
What To Know
Trump said in his proclamation that he had "determined that it is necessary" to increase tariffs on steel and aluminum to "more effectively counter" foreign countries that export steel to the U.S. at low prices, undercutting American companies.
The president added that previous tariffs had led to some improvements in U.S. steel prices, the industry was still struggling, and more needed to be done. Effective 12:01 a.m. Wednesday, tariffs on steel, aluminum, and their derivatives will be set at 50 percent, up from 25 percent, the proclamation shared by the White House said.
Read more: https://www.newsweek.com/trump-doubles-steel-aluminum-tariffs-2080608
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