Trump Administration Doubles Steel and Aluminum Tariffs to 50%, Sparks Trade Tensions

The WHITE House has escalated tariffs on steel and aluminum imports to 50%, citing insufficient growth in domestic industries under the previous 25% levy. The move aims to bolster national security by reducing reliance on foreign metals, though it risks inflaming trade disputes with key partners.

UK exporters secured a temporary reprieve, maintaining the 25% rate until bilateral talks conclude by July 9. Market observers warn the aggressive tariff hike could trigger retaliatory measures, with Independent Can Co's CEO Rick Huether characterizing the policy as "a tactical gambit" that's freezing business investments.

The decision coincides with ongoing reciprocal tariff negotiations, potentially complicating diplomatic efforts. Analysts note the measure may backfire by increasing costs for American manufacturers dependent on imported materials, echoing previous trade war dynamics that disrupted global supply chains.