“Increased duties will more effectively counteract countries that still sell out cheap, excess steel and aluminum on the American market, thus weakening the competitiveness of the steel and aluminum industry of the US,” wrote President Donald Trump in the regulation dated Tuesday.
Trump's decision is not a surprise
Rate increase from 25 to 50 percent Trump announced on Friday. He emphasized that additional fees are to strengthen the American steel industry.
“We will raise duties to steel from 25 to 50 percent, which will protect this industry even more in the United States,” Trump announced during a meeting with employees of the US Steel metallurgical giant in Pennsylvania. Later, he explained on his Truth Social platform that the new customs rates would come into force on June 4 and would also apply to aluminum.
The USA is the largest steel importer in the world. About a quarter of the steel used in the US comes from import. The main suppliers of this raw material to the USA are the neighboring Canada and Mexico, but also Japan, South Korea. And Germany, “Reuters said. Half of the aluminum used in the USA comes from abroad, mostly from Canada.
