LONDON (dpa-AFX) - President Donald Trump has signed a Proclamation to increase the import tariff on steel and aluminum to 50 percent. The doubled tariff, from 25 percent to 50 percent, went into effect on Wednesday.
However, tariffs on steel and aluminum imports from the United Kingdom will remain at 25 percent.
The temporary exemption is subject to 'possible changes or quotas starting July 9, 2025, depending on the status of the U.S.-UK Economic Prosperity Deal,' the White House said, referring to the trade deal the UK government announced with the US early last month.
Immediately after that, U.S. tariffs on automotive were slashed from 27.5 percent, with steel and aluminum reduced to zero.
As per Tuesday's presidential proclamation, the steel and aluminum tariffs will apply only to the steel and aluminum contents of imported products, whereas the non-steel and non-aluminum contents of imported products will be subject to other applicable tariffs.
The order comes a few days after an appellate court removed an injunction by US Court of International Trade on a bulk of sweeping global tariffs announced by President Donald Trump in April.
The White House said President Trump is taking action to protect America's critical steel and aluminum industries, which have been harmed by unfair trade practices and global excess capacity.
Trump signed the Proclamation exercising his authority under Section 232 of the Trade Expansion Act of 1962 to adjust imports of steel and aluminum to protect U.S. national security.
American steel industry welcomed the move while triggering concern from automobile manufacturers.
Foreign nations have been flooding the U. S. market with cheap steel and aluminum, often subsidized by their governments.
High import volumes from sources exempt from Section 232 tariffs were a major factor in depressing U.S. domestic production volumes.
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