Donald Trump doubles the US steel and aluminum rates up to 50%

US President Donald Trump has signed an order to double the rates for steel and aluminum imports from 25% to 50%.

This move includes taxes on the import of metals – key data in everything – from cars to canned food – for the second time since March.

Trump said the measures that came into force on Wednesday are intended to provide the future of the US steel industry.

Critics, however, say the defenses can cause a defeat for steel manufacturers outside the United States, cause revenge from trading partners, and come to criminal expenses for US metal consumers.

Hours before fulfilling its obligations, many affected companies could hardly believe that the plan is moving forward, hoping that it will be temporary or some kind of negotiations.

Even when Trump signed the orders, The United Kingdom received a carving from the measuresLeaving his duties on steel and aluminum at 25%, a move, which Trump said he reflects his current trade discussions with the United States.

“It’s always the question with Mr Trump, it’s a tactic or is it a long-term plan?” Rick Huter said, CEO of Independent Can Co, a Maryland -based business business that wears steel from Europe and turns it into decorative tenes for cookies, popcorn boxes and other products.

Trump’s moves earlier this year made him invest in detention and raise prices. He said he was afraid his customers would turn to alternatives like plastic or paper boxes because of all uncertainty.

“There is a lot of chaos,” he said.

The United States is the largest steel importer in the world after the European Union, taking over the larger part of the metal from Canada, Brazil, Mexico and South Korea, According to the US governmentS

During his first term, Trump imposed 25% rates for steel and 10% for aluminum, citing a law that gives him the power to defend the industries considered vital for national security.

But much imports eventually escaped from the obligations after the United States reached trade deals with allies and provided exceptions for a certain import at the request of the companies.

Trump ended with those carved in March, stating that he was dissatisfied with the way the defense was weakened.

At a rally on Friday at the American steel factory, he said he wanted to make tariffs so high that US enterprises would not have an alternative except to buy from US suppliers.

“No one will surround this,” he said of 50%. “This means that no one will be able to steal your industry.

By May, the import and speed of raw steel production in the United States had changed a little from last year before Trump raised tariffs, according to the American Iron and Steel Institute.

But the import of steel fell by 17% in April compared to March. And businesses that sell metals in the United States have said they are expecting Trump’s latest message to lead to an even more dramatic decline.

Trump’s moves in March have already encouraged Canada and the European Union to prepare to give up the tariffs of their own American products.

On Tuesday, Olof Gill, a spokesman for economic security and trade for the European Commission, said the BBC that the two countries were engaged in intensive negotiations to try to make progress to an agreement.

“We are hard to negotiate to try to make good deals,” he said.

“We really hope that the Americans will return to this last tariff threat, as they did to others, but it remains to be seen.”

In the UK, Trump’s announcement has been pressured by the government to determine the trade deal in the US, which was expected to provide some protection against metal tariffs in March.

Trade Secretary Jonathan Reynolds met with US sales representative Jamison Greer in Paris on Tuesday.

His service told him that he was “pleased” that trade conversations had defended the UK steel from recent obligations.

“We will continue to work with the United States to apply our agreement, which we will see 25% of the US steel tariffs,” he said.

Gareth Stece, CEO of the United Kingdom, Steel, who represents steel manufacturers, told the BBC that its members had already seen orders canceled and delayed as a result of 25% rates introduced in March.

He warned that the 50% tariff would be “catastrophic” for the United Kingdom exports to the United States, about 7% of total exports.

“The introduction of 50% tariffs immediately puts the blinds,” he said. “Most of our orders, if not all of them, will now be canceled.”

Economists have said the US economy is also facing damage as prices are rising as a result of new measures.

A Analysis of 2020 It is estimated that Trump’s first term tariffs create approximately 1000 jobs in the steel industry, but cost the economy 75,000 jobs in other sectors, such as production and construction.

Erika York, Vice President of Federal Tax Policy at the Tax Foundation, said he expects to see even more extreme losses in jobs this time.

“Some of the strongest evidence is against the tariffs for intermediate inputs such as steel and aluminum, finding that they are much more harmful because they increase production costs in the United States,” she said. “It’s just very stupid to double -special about this type of tariff.”

Chad Bartsek is the director of the Steels Prish Rod & Tool Steels supply chain management, a small, family -owned production business in Illinois, which carries about 800,000 pounds every year of Austrian steel, according to the specifications that are not manufactured in the United States.

Bartsek said he was currently waiting for a steel rod of three containers, which would enter the United States without obligations earlier this year.

As of last week, he was expecting to pay the cost of about $ 72,000. Instead, he examines the tariff account of nearly $ 145,000.

“I woke up on Saturday morning, looked at the news and my jaw was dropped,” he told Trump’s message.

Bartsek said the business was stable until a few weeks ago.

But his company raised prices earlier this year by 8% to 14% to help cover new costs. Customers now order more precautions and he had to reduce workers’ hours.

“This is one blow after the other,” he said. “We hope that this settled quickly.”