President Donald J. Trump raised his tariffs on steel and aluminum to 50% today as part of his commitment to support domestic production.
Trump previously announced a 25% tariff on the products in February that went into effect in March.
In his proclamation Tuesday announcing the tariffs, the President stated it is necessary to increase the tariffs so imports “will not threaten to impair the national security.”
He further stated, “In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries.
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“Although the previously imposed steel and aluminum tariffs have helped provide critical price support in the United States market, they have not yet enabled these industries to develop and maintain the rates of capacity production utilization that are necessary for the industries’ sustained health and for projected national defense needs. I have determined that increasing the previously imposed tariffs will provide greater support to these industries and reduce or eliminate the national security threat posed by imports of steel and aluminum articles and their derivative articles.”
President Trump also announced the action despite a judicial challenge to some of his other tariff efforts, particularly his ‘Liberation Day’ actions, which were blocked by a trade court last week.
In a speech at a steel plant last Friday in Pennsylvania, Trump said, “With the help of patriots like you, we’re going to produce our own metal, unleash our own energy, secure our own future, build our country, control our destiny, and we are once again going to put Pennsylvania steel into the backbone of America like never before.”
