Donald Trump said he plans to double tariffs on steel imports from next week, deepening his trade war which has hit global markets.
The US president told a rally of steel workers in West Mifflin, Pennsylvania, on Friday that tariffs would be raised from 25% to 50%, “which will even further secure the steel industry in the United States”.
Mr Trump later said on Truth Social that the new levy – also affecting aluminium imports – would be in effect from Wednesday and that American “industries are coming back like never before”.
“This will be yet another BIG jolt of great news for our wonderful steel and aluminum (sic) workers,” he added. “MAKE AMERICA GREAT AGAIN!”
He then said: “We don’t want America’s future to be built with shoddy steel from Shanghai – we want it built with the strength and the pride of Pittsburgh!”
The new levy will come into effect on Wednesday, the US president says. Pic: Reuters
Sky News understands that British steel exports are exempt from this rise after a UK-US trade agreement was signed earlier this month.
The agreement said at the time that the US “will promptly construct a quota at most favoured nation (MFN) rates” for British steel, aluminium and derivative products.
UK officials told Sky News that the latest hike in tariffs proved “why it was so important that the UK cut this deal”.
Read more: Key details in the UK-US ‘historic’ trade deal
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How good is the UK-US deal?
Earlier, the US president claimed China had “totally violated” an agreement to mutually roll back tariffs and trade restrictions for critical minerals.
“So much for being Mr Nice Guy,” he said in a post on his social media platform.
In March, Mr Trump introduced a 25% tariff on all foreign steel and aluminium imports as a way to protect US manufacturing and bolster jobs by making foreign-made products less attractive.
The rates threaten to make the cost of products using steel and aluminium – such as cars or soft drink cans – more expensive for Americans.
He also previously threatened Canada with 50% levies on imports, while the provincial government of Ontario, in turn, threatened to charge 25% more for the electricity it supplies to the US.
Canada’s most populous province provides electricity to more than 1.5 million American homes and businesses in Minnesota, New York and Michigan.
At the time, Canadian Prime Minister Mark Carney called the proposed 50% tariffs an “attack” on Canadian workers, families and businesses.
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Roughly a quarter of all steel used in the US is imported, with a majority coming from Mexico, Canada, Japan, South Korea and Germany.
In 2024, 6.6m tonnes of steel were imported by the US from Canada, while 3.5m tonnes were brought in from Mexico.
The US is also reliant on imports for aluminium, with 3.2m tonnes coming from Canada last year.