The White House reported that US President Donald Trump has signed an executive order increasing tariffs on steel and aluminum from 25% to 50%.
The measure will take effect on June 4 and aims to protect America's vital steel and aluminum industries, which have suffered from unfair trade practices.
The White House explains that foreign countries have flooded the US market with cheap steel and aluminum, often subsidized by their governments.
As a result, the US steel industry's capacity decreased from 80% in 2021 to 75.3% in 2023.
The United Kingdom is the only country not affected by the tariff increase, maintaining it at 25%. Still, depending on the status of the US-UK agreement, changes are possible from July 9.
