Trump to raise steel and aluminium tariffs on hundreds of goods
Summary
The U.S. Commerce Department is increasing tariffs on steel and aluminium for over 400 products, such as wind turbines and heavy equipment. These changes start immediately and aim to support American industries by expanding existing tariffs to more goods.Key Facts
- The U.S. is adding tariffs on more than 400 products, focusing on steel and aluminium.
- Products affected include wind turbines, mobile cranes, and bulldozers.
- A 50% tariff will apply to the steel and aluminium in these products.
- Imported parts for car exhaust systems and components for electric vehicles are also included.
- The tariffs aim to support the American steel and aluminium industries.
- Foreign car makers opposed the tariffs, saying the U.S. can't meet current demand.
- Some companies, like Home Depot, announced higher prices due to these tariffs.
- Trump had previously imposed a 10% tariff on nearly all U.S. trade partners.
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