Trump Explains Reasoning Behind Doubling Steel, Aluminum Tariffs—But Critics Issue Warnings Over ‘Reckless’ Move
Trump Explains Reasoning Behind Doubling Steel, Aluminum Tariffs...
Daily SumUp · Daily SumUp
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Show Notes
President Donald Trump announced on Friday that he plans to double the tariffs on steel and aluminum imports—increasing the charge from 25% to 50%.
The tariff escalation comes at a precarious time, as Trump’s “reciprocal” tariffs are immersed in legal trouble at the court level and many U.S. businesses are struggling to contend with the back-and-forth nature of the levies.
Trump’s announcement also coincides with the “blockbuster” agreement between U.S. Steel and Japanese steel company Nippon, a deal which he promised will include no layoffs and the steelmaker will be "controlled by the USA."
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