Trump hikes steel tariffs to 50%, spares UK in sweeping trade move
In a move likely to spark fresh global trade tensions, President Donald Trump has announced a sharp increase in tariffs on steel and aluminum imports to the United States, set to take effect on June 4. Under the new policy, duties will rise to 50 percent—double the current rate—for most countries. The United Kingdom, however, will be exempt from the hike, with tariffs remaining at 25 percent.
"In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries," the president wrote in an executive order dated Tuesday.
President Trump formally announced the tariff hike from 25 to 50 percent on Friday, framing the decision as a necessary step to bolster the U.S. steel industry. According to the executive order, the United Kingdom will be exempt from the increase, with its tariff rate holding steady at 25 percent.
"We are going to be imposing a 25% increase. We're going to bring it from 25% to 50% - the tariffs on steel into the United States of America," Trump announced during a meeting with workers at the metallurgical giant US Steel in Pennsylvania. Trump later confirmed on his Truth Social platform that the new tariffs—set to take effect on June 4—will apply not only to steel but also to aluminum imports.
The United States is the world’s largest importer of steel, with roughly a quarter of its domestic consumption sourced from foreign suppliers. According to Reuters, the primary exporters of steel to the U.S. include Canada, Mexico, Japan, South Korea, and Germany. As for aluminum, about half of the U.S. supply is imported—most of it coming from Canada.
The European Commission sharply reacted to Donald Trump's decision to raise tariffs on steel and aluminum from the EU to 50 percent. Brussels responded with a warning of potential retaliatory measures, criticizing the U.S. tariff hike as damaging to the global economy. EU officials argued the decision would negatively impact industries on both sides of the Atlantic.
