(The Hill) - President Trump’s steel and aluminum tariffs doubled on Wednesday to 50 percent, in a dramatic move aimed at protecting U.S. industries that economists say could increase prices for American consumers.
The tariff hike on foreign metals went into effect just after midnight on Wednesday, and they apply to nearly all imports of steel and aluminum. The United Kingdom is exempt from the tariff hike — and will continue to face a 25 percent tariff rate — because of the trade deal announced by Trump and British Prime Minister Keir Starmer last month.
Trump on Friday announced plans to hike tariffs on foreign steel and aluminum imports from the 25 percent rate that has been in effect since March 12 — when Trump’s steel exemptions on tariffs expired and his import tax hike on aluminum