Trump Signs Proclamation Doubling Steel and Aluminum Tariffs from 25% to 50%

Based on Section 232 of the Trade Expansion Act...
Effective at 12:01 a.m. Eastern Time on June 4

On June 3 (local time), U.S. President Donald Trump signed a proclamation to raise tariffs on imported foreign steel and aluminum products from the existing 25% to 50%.

According to the proclamation distributed by the White House on the same day, President Trump ordered that the increased tariff rate take effect starting at 12:01 a.m. on June 4.

This measure implements the tariff increase on steel and aluminum that President Trump announced during a speech at the US Steel plant located on the outskirts of Pittsburgh, Pennsylvania, on May 30. As a result, the itemized tariffs on steel and aluminum, which have been imposed since March 12, will be doubled from the previous 25% to 50%. In particular, the South Korean steel industry, which was already burdened by the 25% tariff, is expected to be hit even harder by this new measure.

President Trump cited as the basis for this decision the investigation reports submitted under Section 232 of the Trade Expansion Act by then-Secretary of Commerce Wilbur Ross on January 11 and 19, 2018, during his first term, as well as the latest information provided by the current Secretary of Commerce. After reviewing the impact of steel and aluminum imports on U.S. national security, it was determined that the volume and conditions of these imports are harming U.S. security.

In the proclamation, President Trump stated, "The increased tariffs will more effectively prevent foreign countries from continuing to flood the U.S. market with low-priced, excess steel and aluminum, which weakens the competitiveness of our domestic industry."

He also added, "While the existing 25% tariff has provided some degree of price defense within the U.S. market, it has not been sufficient to maintain the industry at a sustainable and healthy level or to ensure the capacity utilization needed to meet anticipated national security demands in the future."