Breaking! The U.S. announced: 50% tax hike! Effective on the 23rd.

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2025-06-13 17:48

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On June 12, local time, the US Department of Commerce announced that it would impose various steel household appliances additional tariffs, including dishwashers, washing machines, and refrigerators, etc., "steel derivative products" 。

The US Department of Commerce announced that the above products The additional tariff rate is 50%, Tariff imposition date will start from June 23.

It is understood that a 50% tariff on most countries will affect the import of these steel products, potentially leading to higher consumer prices, and industry stakeholders are closely monitoring developments.

The United States increases tariffs on steel and aluminum

On May 30, local time, US President Trump said at a rally in Pennsylvania that he would raise tariffs on imported steel from 25% to 50%. Subsequently, Trump posted on social media that the decision would take effect from June 4.

Trump said last Friday while inspecting a US Steel factory in Pennsylvania that this move would help protect the domestic steel industry.

Trump said: "This means that no one can take away your industry. When the tariff was 25%, they could barely cross that hurdle, but with the tariff raised to 50%, they can no longer cross it."

Critics, however, say these protections could severely damage steel producers outside the US, provoke retaliation from trading partners, and cost US steel users dearly.

The United States is the world's largest importer of steel, Canada, Brazil, and Mexico are its top three steel suppliers. It is estimated that about 25% of Europe's steel exports go to the United States.

Industry professionals and scholars from many countries believe that this move will push up prices of a range of goods in the United States, from automobiles to canned food, impacting US businesses and consumers, increasing uncertainty in the global economic and trade environment, and casting a shadow over the prospects for world economic growth.

UK exports to the US plummet

Following Trump's launch of a global trade war, UK exports of goods to the US in April saw the largest monthly drop since records began in 1997.

The latest data released by the UK Office for National Statistics (ONS) shows that, starting in March, exports of goods to the US, including precious metals, fell by £2 billion (approximately $2.7 billion) to £4.1 billion, the lowest level since February 2022; while the value of goods imported from the US fell by £400 million to £4.7 billion.

The UK statistics agency said, "This may be related to the US imposing tariffs on all imported goods." This is attributed to Trump's announcement on April 2, "Liberation Day," of a 10% basic tariff on all British goods, with higher tariffs of 25% on steel, aluminum, automobiles, and auto parts exported to the US.

Although on May 8, a framework agreement was reached between the UK and the US to reduce tariffs on automobiles and eliminate aluminum and steel tariffs, but the specific agreement has not yet been fully finalized. Shenzhen Huijietong International Freight Forwarding Co., Ltd. - Professional US Line Transportation Services

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