The United States announced: 50% tax increase will take effect on the 23rd
Sunny Worldwide LogisticsIt is a logistics company with more than 20 years of transportation experience, focusing on markets such as Europe, America, Canada, Australia, Southeast Asia, etc., and is more than the owner of the cargo owner.
The U.S. Department of Commerce announced that the tariff rate for the above products is 50%, and the tariff increase date will start on June 23.
It is reported that setting a 50% tariff on most countries will affect the import of these steel products, which may lead to higher consumer prices, and industry stakeholders are closely watching developments.
Trump said on Friday when he inspected a U.S. Steel factory in Pennsylvania that the move would help protect the domestic steel industry in the U.S.
"This means no one can take away your property. When the tariff is 25%, they can barely overcome that hurdle. When the tariff is 50%, they will never be able to get over it."
In response, critics say these protections could wreak havoc on steel producers outside the United States, trigger retaliation from trading partners and pay a heavy price for U.S. steel users.
The United States is the world's largest steel importer, with Canada, Brazil and Mexico being its top three steel suppliers. It is estimated thatAbout 25% of European steel is exported to the United States.
The latest data released by the Office for National Statistics (ONS) shows that since March, exports to the United States, including precious metals, fell by 2 billion pounds (about 2.7 billion US dollars) to 4.1 billion pounds, the lowest level since February 2022; while imports from the United States fell by 400 million pounds to 4.7 billion pounds.
The UK Statistics Office said that "this may be related to the United States imposing tariffs on all imported goods." This is attributed to Trump's announcement of a 10% basic tariff on all British goods on April 2, of which the tariffs on steel, aluminum, automobile and auto parts exported to the United States are higher, reaching 25%.
Although on May 8, a framework agreement between the United Kingdom and the United States reached a framework agreement to reduce automobile tariffs and eliminate aluminum and steel tariffs,However, the specific agreement has not been fully agreed.
