US President Donald Trump has announced the intention to double duties on import steel - from 25% to 50%. He reported this on May 30 during a speech in Pittsburgh, Pennsylvania, CNN reports. According to Trump, such a decision was made in response to the request of American steelmarks, who believe that a duty of 25% is not enough to effectively protect the domestic market.
"For 25%, they may still climb through the fence. For 50% - no one will climb," the president commented emotionally. Although the tariff was initially discussed in 40%, the industry insisted on the highest - 50%.
The new duty aims to limit the receipt of cheap steel, in particular from China, but the main blow will fall on the largest partners of the US - Canada, Brazil, Mexico and South Korea. These countries are leading steel suppliers to the US market.
According to official data, the United States import approximately 1% of the world volume of steel. In 2024, steel production in the United States amounted to 79.5 million tons, while consumption - 89.2 million tons. In 2025, consumption increases up to 91 million tons, so import dependence remains.
Import duties have traditionally been imposed in order to protect the national producer from price dumping. At the same time, the duty is not the exporting country, but the importing company in the US itself, which can potentially lead to increased prices for steel inside the country.
The date of entry into force of new tariffs has not yet been determined.
