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Trump signs executive order raising tariffs on steel and aluminum imports to 50%

  • On April 2, 2025, President Donald Trump signed an order doubling US steel and aluminum tariffs from 25% to 50% at the White House Rose Garden.
  • Trump imposed these higher tariffs to pressure trading partners and address practices the US viewed as unfair, especially targeting China with levies up to 145%.
  • The tariffs affected trade, consumption, and investment, triggered strong EU and Canadian opposition, and led to calls for urgent negotiated solutions from G7 officials.
  • US Treasury yields remained steady on the tariff increase day, with the 10-year yield at 4.452%, while OECD chief economist Pereira warned the US economy will face the largest impacts.
  • The tariffs raised tensions, prompted a 90-day suspension agreement starting May 12, and signaled risks to global growth and ongoing trade talks between the US, EU, and China.
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Invezz broke the news in on Sunday, June 1, 2025.
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