President Donald J. Trump has signed a proclamation to increase tariffs on steel and aluminum to 50%. This move aims to counter trade practices perceived as undermining national security.
The administration states that the increased tariffs are intended to restore fairness in steel and aluminum markets by addressing what it describes as unfair trade practices and global dumping.
In addition, the decision is expected to bolster America's manufacturing industry by closing existing loopholes and exemptions, thereby strengthening domestic steel and aluminum sectors.
According to the administration, "Studies have repeatedly shown that contrary to public rhetoric, tariffs can be an effective tool for achieving economic and strategic objectives."
