US President Donald Trump signed an executive order raising import tariffs on steel and aluminium from 25% to 50%, US media reported on Wednesday.
The order states that the previous tariffs, introduced in March, “have not yet allowed” American industry “to develop and sustain the production capacity necessary for the sustainable development of these industries and the needs of national defence.”
The tariff increase “will provide greater support to these industries and reduce or eliminate the threat to national security posed by imports of steel and aluminium products and their derivatives,” Trump believes.
The decision will not affect the United Kingdom, where import tariffs will remain at the previous level of 25%. London and Washington are expected to agree on new tariffs or quotas by July 9.
Announcing the tariff increase at the end of May, Trump said that “the steel and aluminium industries are being reborn like never before.” At the same time, he announced that Japanese company Nippon Steel would invest $14 billion in the American steel industry.
The US produces about 750,000 tonnes of aluminium, while annual consumption is over 4 million tonnes. The country imports about 70-80% of its aluminium, covering the deficit mainly with supplies from Canada, the UAE, China and other countries. In 2024, steel production in the US amounted to 79.5 million tonnes, while consumption was forecast at 89.2 million tonnes. US steel imports account for about 1% of global volumes.
On April 2, Trump declared a “day of liberation” for the American economy and imposed “reciprocal” tariffs on products from more than 180 countries, including the US’ closest partners. He later granted a 90-day delay for a number of countries. On May 28, a US court ruled that the large-scale import duties were illegal and blocked them. However, the next day, an appeals court temporarily reinstated the tariffs.
