Trump Doubles Down: Steel Tariffs Soar to 50%
President Donald Trump announced plans to increase tariffs on steel imports from 25% to 50%, aimed at intensifying pressure on global steel producers. This decision is part of Trump's broader trade war strategy and seeks to further protect the domestic steel industry.
- Country:
- United States
In a significant escalation of trade tensions, President Donald Trump announced on Friday that the United States will double tariffs on foreign steel imports from 25% to 50%. The move is intended to apply more pressure on global steel producers and strengthen the American steel industry.
Speaking at a rally in Pennsylvania, Trump declared, "We are going to be imposing a 25% increase. We're going to bring it from 25% to 50% the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States."
This controversial decision is part of President Trump's ongoing trade war, aimed at encouraging local production while challenging international trade practices perceived as unfair.
(With inputs from agencies.)
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