Trump to double tariffs on steel imports
Published: 5/31/2025
President Trump announces US will increase tariffs on steel and aluminum imports to 50%, aiming to boost local production and reduce reliance on China. Trump also reveals plans for a $14bn investment in steel production in collaboration with US Steel and Nippon Steel. The move is part of Trump's efforts to revitalize the US steel industry and ensure its survival, amidst ongoing trade tensions with China and concerns over global economic stability.
