President Donald Trump is set to sign an order for a substantial increase in tariffs on imported steel and aluminum—up to 50%. The White House confirmed that the new rates will take effect on June 4. All of this is part of a campaign to strengthen national production and restore the old strength of American metallurgy.
Karen Levitt, White House press secretary, confirmed: the order takes effect immediately. According to her, this is a decisive step in the fight to restore the sovereign industrial potential of the U.S.
"No one will bypass us" — Trump doubles tariffs
At a rally in Pittsburgh, Trump stated that tariffs on imported steel and aluminum are increasing from 25% to 50%. According to him, this step is supposedly meant to finally cement the positions of American metallurgy.
"We will raise tariffs from 25% to 50% on steel imports into the U.S. And no one will circumvent this. We will secure a real, strategic advantage for ourselves," Trump declared.
This decision promises significant price increases for imported steel and aluminum, which will undoubtedly impact many sectors—from automotive to construction. But the main point behind this from the administration is not just to raise tariffs, but to genuinely aim at rebooting and enhancing the industrial potential of the country.
Market reactions and business concerns
As expected, the market reaction has been mixed. The business community, despite all calmness and restraint, has made it clear that the situation is tense. Market players have expressed concerns that trading partners may respond with mirror moves, which could complicate the situation significantly.
Meanwhile, the White House continues to hold its line, referring to the good old Article 232 of the Trade Expansion Act. Formally, it's national security protection; in reality, it's a tool of pressure within a larger geo-economic framework. It is obvious that this is not about aluminum per se, but about a global tug-of-war for control over production clusters and strategic raw materials.
For reference: similar tariffs were introduced under previous administrations, but at that time the rates were more modest—around 25%. The main goal was not to restore the steel empire but to combat the excess of cheap imports. Now, however, the scale is entirely different.
Current measures appear to be an attempt to shift the domestic market against the backdrop of stagnation in other sectors. The PR campaign here is no less extensive than the economic effect.
Analysts suggest that the increase in tariffs may also affect cryptocurrency markets, at least indirectly. Under conditions of increasing pressure on traditional assets and trade tensions, investors may start looking towards decentralized assets as an alternative.
