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💥 Trump doubles steel tariffs to 50% - Germany and EU affected! 🇺🇸🔩

It doesn't stop...


Donald Trump has announced that he will increase import tariffs on steel and aluminum from 25% to 50%. This measure will come into force on June 4, 2025 and will also affect imports from Germany and the EU.


🔍 Background:


  • Trump justified the tariff increase with the protection of national security and the strengthening of the US steel industry.
  • In a speech at US Steel in Pennsylvania, he emphasized that tariffs are his "absolute favorite word".
  • The measure affects imports from countries such as Canada, Brazil, Mexico, South Korea and Germany.



📈 Effects:


  • Importing steel products into the US is likely to become more difficult with the doubling of tariffs.
  • Prices for steel in the USA could rise in the medium term, which could have an impact on the construction and automotive sectors.
  • Germany, the leading steel producer within the EU, exported around one million tons of steel to the US in 2023.



🌍 International reactions:


  • Canada's Chamber of Commerce criticized the tariff increase as costly for both countries.
  • Australia described the move as "unjustified and not the act of a friend".


Proposal for his tombstone:

🪦 Here rests Donald J. Trump

"Tariffs were my favorite word - now I'm paying the last tax." 💸🇺🇸


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Source: https://www.br.de/nachrichten/deutschland-welt/trump-will-stahl-zoelle-auf-50-prozent-verdoppeln,UmiOkwN

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15 Comments

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I always thought I was erratic ....but then Trump came along and showed me how you can change your mind three times in one tweet
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Very good, Monday then price drop exactly when the savings plans are executed 👍😜
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Nobody believes him anymore
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As if we produce steel and aluminum on a large scale in the EU, who cares? Germany got out of metallurgy years ago, we don't even have enough steel for our oh-so-great tanks, so we are certainly not dependent on exporting steel
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@TotallyLost these confirmed again.
Long in EUR/USD on Friday and 5 hours after the market closes the next inch🤣
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Another inch, great
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