Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
NEW YORK, May 31 (Xinhua) — U.S. President Donald Trump said on Friday that he plans to double tariffs on imported steel and aluminum to 50 percent to further protect domestic industries from foreign competition.
D. Trump made the announcement during a visit to the US Steel plant in West Mifflin, Pennsylvania, where the US Steel deal with Japan’s Nippon Steel worth $14 billion was also announced.
“We are going to raise tariffs by 25 percent. We will raise tariffs on steel imports to the United States of America from 25 to 50 percent,” local media quotes D. Trump as saying. “/This/ will further protect the US steel industry.”
The US president later confirmed the decision in a post on the Truth Social social network, stating that the new tariffs would go into effect on June 4.
On March 12, the Trump administration imposed 25 percent tariffs on steel and aluminum imports, drawing sharp criticism from the U.S. auto industry. Canada immediately retaliated, and the European Union announced counter-tariffs but ultimately dropped them.
As local media note, the increase in tariffs could lead to an increase in prices for metal products, including cars, canned goods and industrial equipment. –0–