By President Donald Trump has announced a staggering 30% tariff on Chinese steel and aluminum imports, a move aimed at revitalizing the struggling U.S. metals industry. The decision, which comes amid rising tensions between Washington and Beijing, has drawn mixed reactions from industry leaders and policymakers.
The tariffs, effective immediately, are expected to provide a boost to domestic steel producers but could also lead to higher costs for manufacturers reliant on imported materials. Shares of major U.S. steel companies surged following the announcement, while automakers and construction firms expressed concerns over potential price hikes.
Chinese officials have labeled the move “protectionist” and warned of retaliatory measures. “The U.S. is undermining global trade rules,” said a spokesperson for China’s Ministry of Commerce. Meanwhile, European allies have also voiced unease, fearing the tariffs could disrupt global supply chains.