President Donald Trump announced on Friday that duties on steel and aluminum imported to the US will increase from 25 to 50 percent. According to Trump, additional fees are to strengthen the American steel industry.
– We will raise duties to Stal from 25 to 50 percent, which will protect this industry in the United States even more – Trump announced during a meeting with employees of the US Steel metallurgical giant in Pennsylvania. He said “duties” is his favorite word.
Later, he explained on his Truth Social platform that the new customs rates would come into force on June 4 and would also apply to aluminum.
As the DPA agency writes, in 2024 the US was the largest importer of Steel in the world. According to the US government, the most important countries of the origin of imported steel products are Canada, Brazil and Mexico. The United States is the most important market for the European steel industry, mainly German.
The US imports aluminum primarily from Canada, the United Arab Emirates, China and South Korea.
It is not known if there will be exceptions to doubled tariffs – for example for Canada and Mexico with which the US form a North American free trade zone. However, there were no exceptions from 25 % duties announced by President Trump in February.
Author/author: ek
Source: PAP
Source of the main photo: PAP/EPA/JIM LO SCALZO/POOL