Donald Trump plans to raise tariffs on steel and aluminum imports from 25% to 50%, escalating the trade war
Liviu Brăteanu
International
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President Trump said the tariff increase will support the US steel industry and protect jobs, announcing that it will take effect on June 4. Shares of steelmaker Cleveland-Cliffs Inc have surged, and the tariff hike is part of a broader strategy to combat international competition, particularly from China. The tariffs will influence prices in the market, affecting both industry and consumers.
Sources
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