2025‑06‑02

U.S. President Trump announced on May 31st that in order to promote the development of the U.S. domestic steel industry and stimulate local production, the tariff on steel and aluminum products imported from all over the world will be further increased to 50%, effective from June 4th (except for the UK, still subject to 25%). The move also means that the 25% tariff originally imposed under Section 232 will be doubled, which is bound to put the global steel and aluminum product industry under greater cost pressure again. Although the U.S. Court of International Trade has recently ruled that the reciprocal tariffs imposed by President Trump under the International Emergency Economic Powers Act (IEEPA) exceeded the President’s authority and must be stopped immediately, the Trump administration has filed an appeal, which is still pending before the Court. The steel and aluminum tariffs are based on a different law and therefore will not be affected by this appeal.