The United States will increase its tariffs on imported steel and aluminum effective tomorrow, as announced by the White House with an order signed by US President Donald Trump. This action represents the latest strike in Mr. Trump’s trade wars, raising levies on both metals from 25% to 50%. However, tariffs on metal imports from the UK will stay at the 25% rate while both nations negotiate duties and quotas as per their earlier trade agreement. According to the order, the overall goal is to “more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States,” which undermines the competitiveness of US industries. Mr. Trump revealed his decision to increase tariffs on steel and aluminum while speaking to workers at a US Steel plant in Pennsylvania last week. “Nobody is going to be able to steal your industry,” he stated during his address. “At 25%, they can sort of get over that fence. At 50%, they can no longer get over the fence,” he explained. This decision, however, escalates tensions with key US trading partners. The European Union warned over the weekend that it is ready to retaliate against these levies. It noted that the sudden announcement “undermines ongoing efforts to reach a negotiated solution” between the bloc and the US. Washington is already in discussions with various nations following Mr. Trump’s imposition of sweeping 10% tariffs on nearly all partners in April, along with the announcement of even higher rates for multiple economies. While the increased tariffs have been put on hold during ongoing negotiations, this pause will expire in early July, heightening the urgency to finalize trade agreements. Since resuming the presidency in January, Mr. Trump has enacted extensive tariffs on both allies and adversaries, creating volatility in financial markets. He has additionally imposed tariffs on sector-specific imports like automobiles, in addition to the focus on steel and aluminum.