U.S. President Donald Trump said Friday he plans to double the tariff rate on steel to 50 per cent, a dramatic increase that could further push up prices for a metal used to make housing, vehicles and other goods.
U.S. President Donald Trump said he will double the tariffs on steel and aluminum imports to 50 per cent next Wednesday, prompting critical response from Canada’s steel industry.
Trump initially announced the boosted duties on steel during a rally at U.S. Steel’s Mon Valley Works–Irvin Plant near Pittsburgh Friday evening. He told a cheering crowd of steelworkers that the increased levies will “further secure the steel industry in the United States.”
“Nobody is going to get around that,” Trump said.
In a post on social media after the rally, Trump said he would also be increasing tariffs on aluminum to 50 per cent.
“Our steel and aluminum industries are coming back like never before,” he wrote. “This will be yet …