Trump announces to double steel, aluminum tariffs to 50%

On June 3, local time, the White House issued a statement announcing that U.S. President Trump will raise tariffs on imported steel and aluminum and their derivatives from 25% to 50%. This tariff policy will take effect at 00:01 a.m. Eastern Time on June 4, 2025.

The statement indicated that tariffs on steel and aluminum imports from the United Kingdom will remain at 25%. If it determines that the United Kingdom has not complied with relevant aspects of the US-UK Economic Prosperity Deal, the applicable tariff rate may be increased to 50%.

On May 30, local time, during a rally in Pennsylvania, President Trump announced his intention to raise tariffs on imported steel from 25% to 50%. Subsequently, Trump confirmed on social media that this decision would take effect on June 4.