US President Donald Trump signed an executive order on Wednesday doubling tariffs on steel and aluminium imports from 25% to 50%, marking the second increase since March.
The measures impose higher import taxes on metals used across industries from automotive manufacturing to food packaging. Trump stated the policies aim to secure America’s steel industry future.
The UK received exemption from the increased duties, maintaining 25% tariffs on its steel and aluminium exports. Trump cited ongoing trade discussions as justification for the carve-out.
The US ranks as the world’s largest steel importer after the European Union, sourcing primarily from Canada, Brazil, Mexico and South Korea, according to government data.
Trump initially imposed 25% steel and 10% aluminium tariffs during his first term under national security provisions. Many imports subsequently escaped duties through trade agreements and company-specific exemptions, which Trump eliminated in March.
At a Pennsylvania rally at US Steel’s factory, Trump declared intentions to make tariffs prohibitively high for foreign competitors. “At 50%, they can no longer get over the fence,” he stated.
US steel imports declined 17% in April compared to March, with industry participants expecting sharper decreases following the latest announcement.
Canada and the European Union prepared retaliatory measures following March’s tariff increases.
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