Trump’s doubled steel tariffs to take effect today amid trade tensions

Trump’s doubled steel tariffs to take effect today amid trade tensions

Last week, Trump announced that he would increase levies on steel imports from 25 per cent to 50 per cent, saying that the move would give a boost in domestic steel production and improve national output while reducing dependency on China

Coils of rolled steel sit in an industrial yard with transmission towers and smokestacks in the background at dusk in Hamilton, Ontario, Canada, January 27, 2025. Source: Reuters