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Trump Explains Reasoning Behind Doubling Steel, Aluminum Tariffs—But Critics Issue Warnings Over ‘Reckless’ Move
President Donald Trump announced on Friday that he plans to double the tariffs on steel and aluminum imports—increasing the charge from 25% to 50%.
The tariff escalation comes at a precarious time, as Trump’s “reciprocal” tariffs are immersed in legal trouble at the court level and many U.S. businesses are struggling to contend with the back-and-forth nature of the levies.
Trump’s announcement also coincides with the “blockbuster” agreement between U.S. Steel and Japanese steel company Nippon, a deal which he promised will include no layoffs and the steelmaker will be "controlled by the USA."
Hosted on Acast. See acast.com/privacy for more information.
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By Daily SumUpPresident Donald Trump announced on Friday that he plans to double the tariffs on steel and aluminum imports—increasing the charge from 25% to 50%.
The tariff escalation comes at a precarious time, as Trump’s “reciprocal” tariffs are immersed in legal trouble at the court level and many U.S. businesses are struggling to contend with the back-and-forth nature of the levies.
Trump’s announcement also coincides with the “blockbuster” agreement between U.S. Steel and Japanese steel company Nippon, a deal which he promised will include no layoffs and the steelmaker will be "controlled by the USA."
Hosted on Acast. See acast.com/privacy for more information.