EU 'strongly regrets' Trump's announcement to double steel and aluminium tariffs to 50%

In a swift guidance to nan move, a European Commission spokesperson said successful an emailed statement: "We powerfully regret nan announced summation of US tariffs connected alloy imports from 25% to 50%," nan news agency Reuters reported, adding:

"This determination adds further uncertainty to nan world system and increases costs for consumers and businesses connected some sides of nan Atlantic".

Also referring to nan ongoing transatlantic waste and acquisition talks, nan spokesperson said that "the tariff summation besides undermines ongoing efforts to scope a negotiated solution" and stated that "the EU is prepared to enforce countermeasures, including successful consequence to nan latest US tariff increase", if needed.

The US president said that doubling taxes connected imported alloy would "further fortify nan alloy manufacture successful nan United States".

In a post, published later connected his Truth Social platform, nan US president added that duties connected aluminium will besides summation from 25% to 50%. Trump said some increases will travel into effect connected Wednesday, 4 June.

The announcement comes aft confusing days during which nan judiciary gave opposing rulings connected Trump's customs policy, first blocking it pinch a determination by nan US Court of International Trade and yet giving it nan greenish ray again, pending a caller determination by a national appeals court.

Investment coming from Japan

Trump said connected Friday astatine U.S. Steel's Mon Valley Works-Irvin works connected nan outskirts of Pittsburgh, Pennsylvania, wherever he besides discussed specifications of a woody being finalised for finance by Japan's Nippon Steel successful nan iconic American alloy mill.

Trump clarified to reporters aft his return to Washington, however, that he has yet to o.k. nan deal. "I person to o.k. nan last statement pinch Nippon and we haven't seen nan last statement yet, but they've made a very large committedness and it's a very large investment," he said.

Although Trump initially promised to artifact nan Japanese steelmaker's bid to bargain U.S. Steel, he changed people and past week announced an statement for a partial waste to Nippon Steel.

The Japanese institution ne'er claimed to person changed its erstwhile connection to bargain and afloat power U.S. Steel, for $14.9 billion, though it did summation nan magnitude it promised to put successful American plants and guaranteed it would not laic anyone off.

"We are present coming to observe anextraordinary woody that will guarantee that this historical American institution will stay an American company," Trump said during a rally astatine 1 of U.S. Steel's warehouses, "you will stay an American company, you cognize that, right?"

The United Steelworkers national said it was very concerned "about nan effect this merger of U.S. Steel pinch a overseas competitor will person connected nationalist security, our members, and nan communities wherever we unrecorded and work."

According to nan government's shaper value index, alloy prices person risen 16 per cent since Trump became president successful mid-January.

As of March 2025, alloy costs $984 per metric tonne successful nan US, acold much than nan value successful Europe ($690) aliases China ($392), according to nan US Department of Commerce.

Among nan partners astir affected by nan imaginable summation successful duties connected these materials are nan EU, which had conscionable obtained a July postponement of nan summation successful wide duties connected exports to nan US, and Canada.

"Dismantling efficient, competitive, and reliable cross-border proviso chains for illustration we person successful alloy and aluminium comes astatine a precocious costs to some countries," Candace Laing, president of nan Canadian Chamber of Commerce commented.

Last year, nan US produced astir 3 times arsenic overmuch alloy arsenic it imported, pinch Canada, Brazil, Mexico and South Korea arsenic nan main sources of imports. Analysts person credited nan duties making love backmost to Trump's first word pinch helping to fortify nan home alloy industry.

The destiny of U.S. Steel, erstwhile nan world's largest alloy company, could measurement successful nan midterm elections for nan Republican Party successful nan ever decisive authorities of Pennsylvania and others that dangle connected manufacturing.