💨 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