Overview

• President Donald Trump signed a proclamation effective June 4 that raises tariffs on imported steel and aluminum from 25% to 50% under national security and domestic industry protection powers.
• Imports from the United Kingdom remain subject to existing 25% duties as part of a preliminary Economic Prosperity Deal, with final quotas and rates to be negotiated by July 9.
• Canada, Mexico, South Korea and the European Union criticized the hike and warned they will consider retaliatory measures to defend their metal industries.
• The Office of the U.S. Trade Representative asked all trading partners to submit their best trade proposals by June 4 to avoid higher, country-specific tariffs when a 90-day pause expires on July 8.
• Legal challenges to the tariff regime persist, with California’s lawsuit dismissed for lack of jurisdiction and now on appeal to the Ninth Circuit, while other cases remain pending.