Trump raises tariffs on steel and aluminum to 50%: how will it affect global markets

According to hvylya.net: U.S. President Donald Trump has introduced new 50% tariffs on the import of copper, steel, and aluminum, which could seriously impact industries that heavily rely on these materials - from construction and defense to 'green' technologies.

The doubling of tariffs on steel and aluminum from 25% to 50% has increased domestic metal prices in the U.S., limiting competitive imports. At the same time, in July, copper prices soared to record levels, but after the imposition of tariffs, prices fell sharply as raw materials were exempt from tariffs. Trump previously noted that steel and aluminum are the foundation of American power.

The U.S. President claimed during his first term: 'A strong steel and aluminum industry is vital to our national security. Steel is steel. Without steel, you have no country.'

Challenges may arise in the electric vehicle and renewable energy sectors, which require these metals but already have low profit margins. Analysis indicates that Trump's tariffs could increase production costs by 4.5%, potentially leading to a contraction in some industrial sectors.

The introduction of new tariffs on copper, steel, and aluminum import by President Donald Trump could positively impact domestic production of these materials in the U.S., but simultaneously create problems for businesses that utilize these metals in their operations. The discussed changes could have a significant impact on the market and industry of the country, cause imbalances in several sectors, and lead to a reduction in some oil and gas, electric vehicle, and renewable energy productions.