Trump signs order to double steel, aluminium import tariffs to 50%

The new tariff rates, increased from an earlier 25% rate, were announced by Trump in a statement on Tuesday. The president claimed legal authority to impose the tariffs through Section 232 of the Trade Expansion Act of 1962, which allows the president to address national security risks arising from imports.

“In my judgement, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminium in the United States market and thereby undercut the competitiveness of the United States steel and aluminium industries,” read Trump’s statement released by the White House.

Trump said the earlier 25% tariff rates, first announced in February and implemented on March 12, had helped America’s steel industry but had not enabled companies to maintain the capacity needed to meet national defence needs.