The United States will impose 50% tariffs on imported steel and aluminum starting June 4, as announced by former President Donald Trump on his Truth Social platform. The decision marks a significant increase from the current 25% rate, with the goal of boosting domestic manufacturing and protecting American industry.

"It is my great honor to raise the tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before," Trump stated on Truth Social.
First Announcement Made in Pennsylvania
Trump first announced the measure during a campaign rally in Pittsburgh, Pennsylvania, a region historically known for its steel production. He emphasized the strategic importance of steel and aluminum industries for national security and economic independence.

"This is about protecting American workers, rebuilding our industrial base, and reducing our reliance on foreign producers," he said during his speech.

Economic and Political Reactions
Economists note that the move could have significant implications for global trade, especially with key U.S. trading partners such as China, the European Union, Canada, and Mexico. Higher tariffs could lead to increased costs for American manufacturers and potential retaliatory tariffs from affected countries.

Trade analysts also caution that while the decision might offer short-term gains for certain domestic producers, it risks escalating trade tensions and may strain diplomatic relations.

Impact on Domestic Industry
Supporters of the measure argue that higher tariffs will encourage investment in U.S.-based production facilities, create jobs, and ensure a stable domestic supply of key industrial materials. The steel and aluminum industries in the U.S. have long struggled with overseas competition and lower-cost imports, particularly from China.

Fatima Shukurova // EDnews