US President Donald Trump increased duties on steel and aluminum from 25% to 50%, fulfilling a promise to raise taxes on imports to the United States to help domestic producers. The decree signed on Tuesday took effect on Wednesday, Bloomberg reports.
The decree states that previous duties "have not yet allowed domestic enterprises to develop and maintain the level of capacity utilization necessary for the stable functioning of industries and meeting the projected needs of national defense."
"An increase in previously imposed tariffs will provide greater support to these industries and reduce or eliminate the threat to national security posed by imports of steel and aluminum products and their derivatives," the White House said in an order posted on the social network X.
