Trump Doubles Tariffs on Steel and Aluminum: 50% Hike Announced

President Trump Doubles Tariffs on Steel and Aluminum: A 50% Hike Announced Washington D.C. - In a significant development impacting global trade, President Trump announced a substantial increase in tariffs on steel and aluminum imports. The move, effective immediately, raises tariffs to 50%, significantly impacting industries reliant on these metals. The decision comes amidst ongoing trade tensions and is expected to have far-reaching consequences for various sectors. A White House spokesperson stated, "The President is committed to protecting American workers and industries." However, critics argue the move could spark retaliatory tariffs and harm the U.S. economy. The long-term economic effects of this decision remain to be seen, but the immediate impact on the steel and aluminum industries is expected to be substantial.