Washington D.C. — Former U.S. President Donald Trump has announced plans to double tariffs on steel and aluminium imports, raising them to 50%. This move is aimed at protecting domestic industries and countering what he described as unfair trade practices by foreign countries.
Speaking at a recent campaign rally, Trump emphasized the need to strengthen American manufacturing and reduce dependency on imported metals. “Our steel and aluminium industries have been under attack for years by foreign dumping and unfair subsidies. It’s time to bring these jobs and factories back to the U.S.,” he said.
The proposed tariff hike marks a significant increase from the current 25% tariff imposed during his previous term in office. If implemented, the policy would affect key exporting countries and potentially escalate tensions in global trade.
Industry experts believe that while the measure could benefit domestic producers in the short term, it might also lead to increased costs for U.S. manufacturers that rely on imported raw materials. The construction, automotive, and packaging sectors are expected to be among the most impacted.
This announcement has sparked mixed reactions across the business and political landscape, with some praising the move as a bold step toward economic independence, while others warn it could trigger retaliatory actions from trade partners.
As the 2024 U.S. presidential elections approach, trade and economic policies are once again taking center stage in national discussions. The proposed tariff increase is expected to be a key talking point in Trump’s campaign platform.