- President Trump signed a decree doubling tariffs on steel and aluminum from 25 percent to 50 percent on June 3, 2025
- The tariff increase applies globally except for the UK, which remains at 25 percent under the Economic Prosperity Deal
- The new tariffs took effect on June 4, 2025, affecting both raw and semi-finished products and derivatives
- Non-metal components are subject to lower Reciprocal Tariffs of 10 percent
- German industry faces higher production costs and potential supply chain disruptions
- Two trade agreements were announced: one with the UK reducing auto tariffs and another with China on strategic raw materials
- The tariff increase adds pressure on German steel and machinery manufacturers, already facing EU tariffs
- European companies are exploring legal ways to avoid tariffs, such as duty drawback systems and using third countries with better tariff profiles
Source: awb-international.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
