Trump Signs Executive Order Doubling Tariffs on Steel, Aluminum
(MENAFN) U.S. President Donald Trump intensified tariffs on steel and aluminum imports Tuesday by doubling the rate from 25% to 50%, according to media reports.
Citing national security concerns, the executive order argues that current steel and aluminum import volumes and conditions jeopardize the nation’s security framework.
While the initial 25% tariff brought some improvements, the administration says those measures fell short of preserving the domestic industry’s production capacity at a sustainable level.
Effective at 12:01 a.m. local time (0400 GMT) on June 4, the tariffs on steel, aluminum, and related products will surge to 50%.
The directive includes a temporary exemption for the United Kingdom, tied to a trade agreement signed last month, allowing UK exports to maintain the original 25% tariff rate. However, this waiver is subject to review after July 9.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
