U.S. President Donald Trump announced he will double tariffs on imported steel—from 25% to 50%—starting June 4. He says this move will protect American steel companies and workers.
At a rally near Pittsburgh, Pennsylvania, Trump said the U.S. will raise tariffs on imported steel to 50%. He explained that the increase is meant to strengthen the American steel industry even more.
Trump made this announcement while speaking about a $14.9 billion deal between Nippon Steel and U.S. Steel, saying both the deal and the higher tariffs will help save American jobs. After his announcement, shares of the steel company Cleveland-Cliffs Inc jumped 26% as investors expected the tariffs would boost the company’s profits.
This decision is part of Trump’s ongoing trade war and comes shortly after he accused China of breaking a trade agreement over critical minerals.
The announcement was made at U.S. Steel’s Mon Valley Works, a well-known steel plant in a region that has seen many factory jobs disappear due to global competition. Pennsylvania is also an important state in U.S. presidential elections.
Trump had first introduced steel and aluminum tariffs in January after returning to office. The original 25% tariffs were put in place in March. While he once threatened 50% tariffs on Canadian steel, he didn’t go through with it.
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The new tariffs will cover a wide range of products made from steel and aluminum—like stainless steel sinks, air conditioner parts, frying pans, and door hinges. In 2024, the U.S. imported about $147.3 billion worth of such goods, with most of that being aluminum and the rest steel.
For comparison, Trump’s earlier tariffs on Chinese goods in 2018 affected about $50 billion worth of products each year.
The U.S. is the world’s biggest steel importer (excluding the European Union), bringing in 26.2 million tons of steel in 2024. Experts say that increasing tariffs will likely raise steel prices, which could affect manufacturers and customers across the country.
