US President Donald Trump is doubling down on steel and aluminium tariffs. Trump has increased import tariffs on steel and aluminium from 25% to 50%. The new tariffs were signed by Trump yesterday evening (3 June). This is the second increase in import taxes on the metals, which are used in everything from cars to canned food, since March.
Trump has said that these measures, which came into effect today (4 June), are intended to secure the future of the American steel industry.
However, critics say the protections could wreak havoc on steel producers outside the US, spark retaliation from trade partners and impose a heavy cost on American users of the metals.
