💨 Abstract

On June 4, 2025, the U.S. doubled tariffs on steel and aluminum to 50%, benefiting the domestic steel industry but raising concerns for sectors that frequently use these metals, including automakers and canning industry. The tariff increase, part of President Donald Trump's broader trade war, is expected to initially bypass consumer wallets but will likely drive up costs in construction, automobiles, appliances, and other sectors due to higher metal prices.

Courtesy: WTOP Staff