Trump signs executive order, raising tariffs on imported steel and aluminum to 50%

According to reports by Bloomberg and other foreign media, on June 3 local time, the White House issued a statement saying that US President Trump had signed an executive order raising tariffs on imported steel and aluminum and their derivatives from 25% to 50%. The report said that the tariff policy would take effect at 00:01 Eastern Time on June 4, 2025. The statement said that US tariffs on steel and aluminum imports from the UK would remain at 25% so that the two countries could set new tariffs or quotas before the July 9 deadline. According to previous reports, on May 30 local time, Trump announced at a rally in Pennsylvania that he would raise tariffs on imported steel from 25% to 50%. Subsequently, Trump posted on social media that the decision would take effect on June 4. On February 10, Trump had signed an executive order announcing a 25% tariff on all steel and aluminum imported into the United States. On March 12, Trump's measures to impose a 25% tariff on all steel and aluminum imported into the United States officially took effect.