US raises steel/aluminum tariffs to 50%.

On June 3 local time, the White House issued a statement announcing that U.S. President Donald Trump has declared an increase in the tariffs on imported steel and aluminum and their derivative products from 25% to 50%. This tariff policy will take effect at 12:01 a.m. EDT on June 4, 2025.
The statement indicated that the steel and aluminum tariffs imposed on imports from the United Kingdom will remain at 25%. Starting July 9, 2025, the United States may adjust the applicable tariff rates in accordance with the terms of the Environmental Policy Statement and establish import quotas for steel and aluminum. If the United Kingdom is deemed to have failed to comply with the relevant provisions of the Environmental Policy Statement, the applicable tariff rate may be increased to 50%.
On May 30 local time, U.S. President Donald Trump, during a rally in Pennsylvania, stated that he would raise the tariff on imported steel from 25% to 50%. Subsequently, Trump posted on his social media platform, confirming that the decision would take effect on June 4.