U.S. 50% Steel And Aluminum Imports Tariff Takes Effect

UNITED STATES – The U.S. has doubled steel and aluminum tariffs from 25% to 50% as of Wednesday under President Trump’s new executive order.

Imports from the U.K. will stay at 25%, thanks to an existing agreement.

President Donald Trump says the hike will “secure” American steel and aluminum by blocking cheap, surplus shipments that undercut U.S. producers.

However global markets are unsettled, with many trading partners reportedly hoping to strike deals before the 90-day tariff pause ends in early July.