Trump doubles down on steel tariffs, aims to boost US industry
President Donald Trump announced on Friday that tariffs on steel and aluminum imported to the USA will increase from 25 to 50 percent starting June 4. He emphasized that the additional charges will strengthen the American steel industry.
"We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,"We will raise tariffs on steel from 25 to 50 percent, which will further protect this industry in the United States," Trump declared during a meeting with workers at the metallurgical giant US Steel in Pennsylvania. The Republican noted that "tariffs" is his absolute favorite word.
Later, he explained on his platform, Truth Social, that the new tariff rates will take effect on June 4 and will also apply to aluminum.
The USA was the largest steel importer
According to the DPA agency, in 2024 the USA was the largest steel importer in the world. The US government reports that the most important sources for imported steel products are Canada, Brazil, and Mexico. The United States is the most vital market for the European steel industry, particularly the German one.
The USA primarily imports aluminum from Canada, the United Arab Emirates, China, and South Korea.
It is unknown whether there will be exceptions to the increased tariffs– for example, for Canada and Mexico, with which the USA forms the North American Free Trade Zone. However, there were no exceptions to the 25-percent tariffs announced by President Trump in February.
"Nobody’s going to get around that," the President of the USA declared during his speech at the US Steel plant in Pennsylvania.
