US Doubles Steel, Aluminum Tariffs as New 50% Rates Take Effect

The tariffs, which took effect at 04:01 a.m. GMT, doubled from 25% to 50% of the goods' value as Trump seeks to correct alleged trade imbalances and strengthen domestic industry in the United States.

Steel and aluminium imports from the United Kingdom are exempt and will remain subject to the existing 25% tariff, the White House said. This is based on a trade agreement recently concluded between Washington and London.

The measure is likely to make it more difficult to import the products in question and lead to higher prices.

In 2024, the U.S. was the world's largest steel importer after the European Union. According to the U.S. government, the most important countries of origin are Canada, Brazil and Mexico. Germany is also among the 10 largest exporters to the U.S.

According to the German Steel Industry Association, the U.S. is the most important sales market for the European steel industry.

The United States sources aluminum primarily from Canada, the United Arab Emirates (UAE), China and South Korea.

Trump has already announced, threatened, or implemented numerous other tariffs with the stated aim of securing better trade agreements.

It is still unclear how the EU will respond to the latest measure. The European Commission sharply criticized the U.S. president's announcement over the weekend and said it was ready to take countermeasures.

However, according to the latest information, talks have continued and have been described as "very constructive."

Another meeting between EU Trade Commissioner Maros Sefcovic and U.S. Trade Representative Jamieson Greer is planned for Wednesday in Paris. If Trump sticks to his decision, the EU could impose counter-tariffs at short notice.

Source: Reuters