Trump signs proclamation to charge 50% tariffs on steel and aluminum

CITYnews halifax / By Kelly Geraldine Malone, The Canadian Press

U.S. President Donald Trump has officially signed a proclamation to charge 50 per cent tariffs on steel and aluminum.

Trump said he doubled the rates after receiving new “information” about the sector from Commerce Secretary Howard Lutnick.

The new tariffs go into effect Wednesday after midnight and also apply to derivative steel and aluminum products.

The proclamation said steel and aluminum from the United Kingdom would continue to be taxed at 25% due to a framework trade deal, though those rates could be adjusted starting July 9 if the U.S. government determines that Britain has not complied with the framework.

Trump said in the proclamation that the higher tariffs would ensure that imported steel and aluminum would “not threaten to impair the national security,” as the import taxes are being imposed due to security concerns.

“In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States,” Trump said.