💨 Abstract
On June 3, 2025, U.S. President Donald Trump announced a doubling of tariffs on foreign steel and aluminum to 50%, effective June 4, with exceptions for the U.K. due to a recent trade deal. This move aims to protect U.S. industries but is expected to increase costs for businesses and consumers across various sectors, including automobiles, construction, and groceries.
Courtesy: WTOP Staff
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