Trump Raises Tariffs on Steel and Aluminum Imports to 25%

US President Donald Trump has raised tariffs on steel and aluminum imports to 25% without any exceptions or exemptions.

According to Reuters, the move is aimed at protecting domestic industries, but it increases the risk of a multilateral trade war.

By signing executive orders, Trump increased the aluminum tariff from 10% to 25% and canceled all country exemptions, quota agreements and hundreds of thousands of tariff exemptions related to steel and aluminum products.