According to Jin Ten reports, U.S. President Trump announced at a Pennsylvania rally on May 30th that he would increase the tariff on imported steel from 25% to 50%. This declaration, made in the local time, signals a significant shift in trade policy.
Subsequently, President Trump took to social media, indicating that this tariff hike would come into effect starting June 4th. The White House corroborated this, issuing a social media statement of their own: "To further protect the American steel industry from foreign and unfair competition, the tariff on imported steel will be raised from 25% to 50% starting next week.
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