Trump to Double Tariffs on Steel Imports, Threatens China

On Friday, US President Donald Trump announced his intention to double tariffs on steel imports, raising the rate from 25% to 50%. The announcement was made during a speech to steel workers in West Mifflin, Pennsylvania. The new tariffs, which are also set to affect aluminium imports, are scheduled to come into effect starting Wednesday. This move is part of a series of trade measures previously implemented by the Trump administration, which have included increases in tariffs on various imported goods. These actions have contributed to fluctuations in global markets and have been interpreted as part of a broader strategy to support American manufacturing industries and address trade imbalances, particularly with countries such as China. The administration argues that these tariffs are intended to protect domestic producers and encourage the growth of American industries. The announcement comes amid ongoing trade tensions between the United States and China, with both countries having imposed tariffs on each other's goods in recent years.