Trump to Double US Tariffs on Steel, Aluminum Imports to 50%

“We are going to be imposing a 25% increase. We're going to bring it from 25% to 50%—the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump said during a rally in Pennsylvania.

The announcement came just outside Pittsburgh, where Trump promoted a $14.9 billion acquisition deal between Japan’s Nippon Steel and US Steel.

Trump said the transaction, like the tariff hike, would help protect American steel jobs.

He later confirmed on social media that the increased tariff would also apply to aluminum imports and would take effect on Wednesday.

Shares of Cleveland-Cliffs Inc surged 26% in after-hours trading as investors anticipated higher profits driven by the new tariffs.

The decision intensifies Trump’s ongoing global trade dispute, coming only hours after he accused China of breaking a deal to mutually reduce tariffs and trade restrictions on critical minerals.

Canada’s Chamber of Commerce denounced the move as “antithetical to North American economic security.”

“Unwinding the efficient, competitive and reliable cross-border supply chains like we have in steel and aluminum comes at a great cost to both countries,” said Candace Laing, president of the chamber.

Australia’s center-left government also condemned the hike, calling it “unjustified and not the act of a friend.”

“They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade,” said Trade Minister Don Farrell.

Farrell added that Australia, a key US ally in the Indo-Pacific, would “continue to engage and advocate strongly for the removal of the tariffs.”

Trump delivered his remarks at US Steel’s Mon Valley Works, a plant emblematic of both American industrial power and the Rust Belt’s economic decline.

Pennsylvania, where the rally was held, is a pivotal swing state in presidential elections.

According to the US Department of Commerce, the United States was the world’s largest steel importer outside the European Union, bringing in 26.2 million tons in 2024.

Analysts say the tariff hike will likely raise domestic steel prices, affecting both manufacturers and consumers.

Trump first imposed 25% tariffs on steel and aluminum after returning to office in January, using Section 232 national security authority.

The duties, which apply to both raw materials and derivative products such as stainless steel sinks, air conditioner coils, frying pans, and door hinges, initially took effect in March.

In 2024, imports across the 289 affected product categories totaled $147.3 billion, with aluminum comprising nearly two-thirds of the value and steel the remainder, according to Census Bureau data.

By comparison, Trump’s initial rounds of tariffs targeting Chinese goods in 2018 covered $50 billion in annual imports.