On Tuesday, U.S. President Donald Trump signed an executive order doubling tariffs on steel and aluminum imports to 50%, up from the previous 25%. The measure applies to all countries globally, except the United Kingdom, which secured a preliminary trade agreement with the U.S. in May.
❗️The new tariffs take effect immediately.
According to the White House, the move aims to revive and protect the U.S. steel industry, which is under sustained pressure from foreign imports—mainly from Canada, Brazil, Mexico, and Germany. The U.S. imported over 26 million tons of steel last year—a quarter of total usage—and over 40% of aluminum.
UK Gets a Pass
The UK is the only country exempt from the increased tariffs, having signed a deal during a 90-day pause in Trump’s broader tariff implementation. The rest of the world, however, is now subject to the steep new import fees.
Trump first proposed the hike in April but delayed enforcement due to market volatility. Now, the tariffs are back, with the administration emphasizing a clear objective: protect American industry at all costs.
#TRUMP , #Tariffs , #TradeWars , #TradingCommunity , #GlobalMarkets
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