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Snapshot 3:Wed, Jun 4, 2025 10:23:35 AM GMT last edited by Haakan

US Doubles Steel, Aluminum Tariffs to 50% Amid Trade War

US Doubles Steel, Aluminum Tariffs to 50% Amid Trade War

Above: President Donald Trump applauds as he comes to address at US Steel - Irvin Works in West Mifflin, Pennsylvania, on May 30, 2025, to honor the Nippon Steel-US Steel merger. Image copyright: Saul Loeb/Contributor/AFP via Getty Images

The Spin

DoublingThese steel tariffs willare devastateessential manufacturingfor jobsnational security and raiseprotecting costsAmerican forworkers consumersfrom acrossunfair multipleforeign industriescompetition. ForChina everyand steelother jobcountries saved,flood dozensthe areglobal lostmarket inwith sectorssubsidized likesteel, automotivemaking andit constructionimpossible thatfor dependUS onproducers affordableto metalscompete fairly. ThisAt protectionist50%, approachforeign hurtscompetitors thecan't broaderjump economyover whilethe benefitingfence aanymore, fewensuring American steel baronsjobs stay in America.

Doubling steel tariffs will devastate manufacturing jobs and raise costs for consumers across multiple industries. For every steel job saved, dozens are lost in sectors like automotive and construction that depend on affordable metals. This protectionist approach hurts the broader economy while benefiting a few steel barons.

Metaculus Prediction

There is a 50% chance that the effective US tariff rate on goods being imported into the United States will be 9.37% at the end of 2026, according to the Metaculus prediction community.


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