President Trump announced a doubling of steel import tariffs to 50% at a US Steel plant in Pennsylvania, aiming to further protect the domestic steel industry. This increase, however, could potentially lead to higher prices for steel-containing products.

President Donald Trump said he's doubling tariffs on foreign steel to 50%, making the announcement during a May 30 visit to a U.S. Steel facility in Pennsylvania. Trump bulked up tariffs on foreign steel and aluminum after taking office for a second time,

Trump said he would increase steel import tariffs to 50 percent, a move expected to impact U.S. manufacturers and trade relationships with Canada and China.