Overview

• Effective June 4, the administration doubled Section 232 tariffs on imported steel and aluminum from 25% to 50%, with Britain maintaining its 25% rate under a preliminary trade pact.
• Trading partners must submit their “best offers” by June 5 to avoid broader “Liberation Day” duties set to take effect on July 8.
• The European Union has condemned the hike and is weighing countermeasures, while Canada and Mexico are pressing for carve-outs to shield their exporters.
• The White House asserts the tariffs will counter foreign dumping and bolster domestic capacity for national security needs.
• American Iron and Steel Institute praised the move as protection for producers, but groups like the Can Manufacturers Institute warn of higher costs for consumers and downstream industries.