Trump Doubles Tariffs on Steel and Aluminum Amid Global Trade Tensions

In a bold move intensifying global trade tensions, President Donald Trump is doubling tariffs on steel and aluminum imports to the United States. Announced via an executive proclamation, the new rates will see tariffs increase to 50% from 25%, as of this Wednesday, marking a significant shift in U.S. trade policy.

The decision has been justified by White House economic adviser Kevin Hassett, who explained the hike as necessary for further assistance to U.S. industries. This adjustment excludes the UK, which has a preliminary trade deal with the U.S., maintaining its tariff rate at 25% until early July.

Major trading partners, including Canada and Mexico, are expected to feel the squeeze, given their vast export volumes of these metals to the U.S. As negotiations continue, affected nations are eagerly seeking tariff exemptions, with some preparing to submit their 'best offer' proposals to the Trump administration.

(With inputs from agencies.)