The new tariffs set by Trump for steel and aluminum have entered into force. The fee is 50%, not 25% as the US initially had set
The new measures regarding the tariffs for steel and aluminum imports, established by Donald Trump, entered into force on Wednesday morning, June 4, after the US president decided to increase customs duties from 25% to 50%, the White House announced.
Trump has doubled the rates for steel and aluminum imports. Photo: x / @popbase
Romania is among the countries that will be affected by this decision, with steel and aluminum exports to the United States worth about $ 500 million in 2023 and 2024.
The measure is part of an executive order applicable to all US trading partners, except for the United Kingdom, which benefit from a provisional agreement and a grace period until July 9, 2025, according to AP.
“We started with 25% and then, after studying the data more carefully, we realized that it is an important help, but that more is needed. That is why, tomorrow the 50% rate will enter,” said Kevin Hassett, economic counselor of the White House, at a conference dedicated to the steel industry.
The measure is officially justified by the Trump administration by the need to protect the American metallurgical industry, but critics warn that the effects will also be felt inside the US. About a quarter of the steel used on the American market is imported, and the main exporters – Canada, Mexico and the European Union – will be directly affected by this decision.
The European Union has expressed its “Deep regret” compared to this measure and warns that it is taking into account retrival measures.
The ECDE's chief economist, Alvaro Pereira, told AFP that such rates “They already have visible effects on global trade, investments and consumption”, adding that the US could support most of the economic consequences.
Although some of the tariff policies imposed during Donald Trump's mandate are currently legally challenged, they remain in force until the court appeals.
