Trump Signs Order Doubling Tariffs on Steel and Aluminum
Newsweek2 days
US Doubles Steel, Aluminum Tariffs to 50% Amid Trade War
Above: President Donald Trump applauds as he comes to address at US Steel - Irvin Works in West Mifflin, Pennsylvania, on May 30, 2025. Image copyright: Saul Loeb/Contributor/AFP via Getty Images
The Spin
Anti-Trump narrative
Doubling steel tariffs will devastate manufacturing jobs and raise costs for consumers across multiple industries. For every steel job saved, dozens are lost in sectors like automotive and construction that depend on affordable metals. Donald Trump's reckless protectionist approach hurts the broader economy while benefiting a few steel barons.
Pro-Trump narrative
President Trump's visionary tariffs have already begun to work, and this latest move will do the same. Surveys show 90% of firms plan to reshore, boosting local economies. Recent studies also report thousands of new manufacturing and auto jobs after tariffs. Investments like Hyundai's billions signal confidence. Short-term price hikes pale against long-term gains in economic independence.