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US to impose a 50% tariff on steel imports from June 4, 2025.
Move aims to shield domestic steelmakers from foreign competition.
Global trade dynamics likely to be impacted, raising market concerns.
In a bold policy move, former US President Donald Trump has announced the imposition of a 50% tariff on all steel imports into the United States, effective June 4, 2025. The decision is being positioned as a strategic step to safeguard the interests of domestic steel producers and revive America’s industrial backbone.
Trump, while addressing a rally, stated that the US steel industry had long suffered from unfair foreign competition and dumping practices. By increasing the tariff barrier, the administration aims to stimulate local production, create jobs, and reduce dependency on imported steel.
Industry analysts suggest this move could disrupt global steel trade flows, especially affecting key exporters like India, China, South Korea, and Japan, while also raising the possibility of retaliatory trade measures from affected nations.
Steel prices in the US are expected to rise following the tariff, while exporters globally may seek alternative markets or offer competitive discounts to remain afloat.
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