#TrumpTariffs

Expansion of Steel and Aluminum Tariffs

Started on June 4, 2025: Tariffs were doubled from 25% to 50% on steel and aluminum imports from all countries (except the United Kingdom, which remains at 25% temporarily). On June 13, it was expanded to include metal content in household appliances automatically.

• Significant economic implications

• A source from JPMorgan estimates that these tariffs could cost American companies (especially medium-sized ones) around $82.3 billion, which will ultimately be borne by consumers.

• According to Barron’s and CFR, car prices may rise by up to 15%, adding more than $2,000 to the cost of producing a single vehicle due to steel tariffs.

• Many economists warn that the 50% tariff policies on steel and aluminum could harm industrial and construction sectors, with broader effects on inflation and economic growth.

• Updates on agreements and legal challenges

• A preliminary deal with the United Kingdom allows for some exemptions: the tariff remains at 25% until July 9, and may be raised thereafter.