Trump Raises Steel Tariffs to 50%, Aiming to Boost Domestic Industry

President Donald Trump signed an executive order imposing a 50% tariff on imported steel, effective June 4. This decision follows promises made to domestic steel producers to protect their industry and increase tariffs. The White House argues the previous 25% rate failed to adequately support local production and national defense goals. 50% tariffs are expected to boost domestic industries while reducing reliance on foreign imports. While UK steel exports are exempt from the new rate until July 9, when a revised agreement may be reached, the move could escalate global trade tensions.