U.S. Tariffs on Steel and Aluminum Imports to Increase

According to PANews, U.S. President Donald Trump announced an increase in tariffs on imported steel, aluminum, and their derivative products from 25% to 50%. This policy will take effect from 12:01 AM Eastern Time on June 4, 2025. The statement clarified that tariffs on steel and aluminum imports from the United Kingdom will remain at 25%. Starting July 9, 2025, the U.S. may adjust applicable tariff rates and set import quotas for steel and aluminum under the terms of the Environmental Policy Statement. If the UK is found to be non-compliant with the provisions of the Environmental Policy Statement, the applicable tariff rate may be raised to 50%.