Donald Trump said he plans to double tariffs on steel imports from next week, deepening his trade war which has hit global markets.
The US president told a rally of steel workers in West Mifflin, Pennsylvania, on Friday that tariffswould be raised from 25% to 50%, “which will even further secure the steel industry in the United States”.
Mr Trump later said on Truth Social that the new levy – also affecting aluminium imports – would be in effect from Wednesday and that American “industries are coming back like never before”.
“This will be yet another BIG jolt of great news for our wonderful steel and aluminum (sic) workers,” he added. “MAKE AMERICA GREAT AGAIN!”
He then said: “We don’t want America’s future to be built with shoddy steel from Shanghai – we want it built with the strength and the pride of Pittsburgh!”
Image: The new levy will come into effect on Wednesday, the US president says. Pic: Reuters
A UK government source has told Sky News that the UK is exempt from this new tariff rate following the signing of a US-UK trade agreement earlier this month.
The source points to the deal as proof of why early agreement with Trump’s administration was important.
The agreement said at the time that the US “will promptly construct a quota at most favoured nation (MFN) rates” for British steel, aluminium and derivative products.
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How good is the UK-US deal?
Earlier, the US president claimed China had “totally violated” an agreement to mutually roll back tariffs and trade restrictions for critical minerals.
“So much for being Mr Nice Guy,” he said in a post on his social media platform.
The rates threaten to make the cost of products using steel and aluminium – such as cars or soft drink cans – more expensive for Americans.
He also previously threatened Canada with 50% levies on imports, while the provincial government of Ontario, in turn, threatened to charge 25% more for the electricity it supplies to the US.
Canada’smost populous province provides electricity to more than 1.5 million American homes and businesses in Minnesota, New York and Michigan.
At the time, Canadian Prime Minister Mark Carney called the proposed 50% tariffs an “attack” on Canadian workers, families and businesses.
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