US President Donald Trump has said that he planned to double tariffs on foreign imports of steel to 50 percent starting next week, further casting a cloud on steelmakers around the globe.
“We are going to be imposing a 25 per cent increase. We’re going to bring it from 25 per cent to 50 per cent– the tariffs on steel into the United States of America — which will even further secure the steel industry in the United States,” Trump said on X social media platform.
He later posted on social media that the higher tariff rate would take effect on June 4