President Trump signed on Tuesday a proclamation that rises the tariffs to steel and aluminum from 25% to 50% from June 4.
The barriers to imports of both metals from the United Kingdom will remain at 25%.
With the measure, the Republican president fulfills his commitment to increase import taxes to help manufacturers in his country.
“In my opinion, the increase in tariffs will counter more effectively to foreign countries that continue to discharge surpluses of steel and low -price aluminum in the US market, thus undermining the competitiveness of the American industries of steel and aluminum,” Trump said in the proclamation.
Lee: Aluminum and steel prices in the US upload Trump tariff threat after new tariff
Steel, aluminum exports and its manufactures of Mexico in 2024 added 16,078 million dollars of which 81.73% went to the United States, recalled the director of the Base Financial Group, Gabriela Siller.
He added that the exports of these products to the United States represented 2.13% of the total shipments of Mexico.
“The increase has the potential to cause a 4% drop in exports of these products this year,” he said in the social network X.
The Ministry of Economy has not yet pronounced.
Lee: Trump announces that steel and aluminum tariffs will rise from 25 to 50%
With Reuters information
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