Please select your home edition
Edition
Craftinsure 2023 LEADERBOARD

U.S. announces tariff increase on steel and aluminum imports

by National Marine Manufacturers Association 4 Jun 00:56 BST
U.S. announces tariff increase on steel and aluminum imports © National Marine Manufacturers Association

On May 30, President Donald Trump announced that Section 232 tariffs on imported steel and aluminum will double from 25% to 50%, effective Wednesday, June 4. The announcement was made during a speech at U.S. Steel's Mon Valley Works-Irvin Plant near Pittsburgh PA and later confirmed in a Truth Social post.

In his remarks, President Trump stated the move would "even further secure the steel industry in the U.S." He also referenced a developing agreement involving Japan's Nippon Steel and U.S. Steel, which he said would involve significant investment while keeping U.S. Steel headquartered in Pittsburgh. Trump noted that he has not yet formally approved the deal, which remains under review.

Global Reactions and Market Impact

The European Commission expressed strong opposition and stated it is preparing countermeasures, noting the move "undermines ongoing efforts to reach a negotiated solution" and "adds further uncertainty to the global economy."

Continue reading the full article here...

Related Articles

Topper Rooster Southern Travellers at Stokes Bay
The home club duo of Reuben Wealthy and Joel Keen took all four first places in the 5.3 fleet Saturday's planned training event may have fallen victim to strong winds in the Solent but thankfully the fleet and race team was greeted with more appropriate conditions on Sunday morning with twelve 5.3s and seventeen 4.2s boats tallied on and away. Posted today at 5:11 am
Who made the right call to get to the breeze?
And how technology is changing the Transpac Race to Hawaii Boats racing in the 2025 Transpac continue to reel in the offshore miles toward the finish line off Honolulu, Hawaii, in the 53rd edition of this historic 2,225-nautical-mile race. Posted today at 12:54 am
ORC DH Europeans Short Offshore Race
Racing opens in Helsinki with tight racing and shifting winds The 2025 Garmin ORC Double Handed European Championship got under way in Helsinki with the Short Offshore Race on Tuesday, July 8. This marked the official start of racing after days of measurement, safety checks, and a practice race. Posted on 8 Jul
OK Dinghy Europeans at Warnemünde day 3
Nick Craig fights back Canada's Ben Flower and Britain's Charlie Cumbley will go into Wednesday's final day at the 2025 OK Dinghy European Championship in Warnemünde, Germany, on equal points with two more races to sail. Posted on 8 Jul
IOM Ranking round 3 and 4 at Datchet
A useful test event for the Worlds next year Datchet Radio Sailing are hosting the IOM World Championships in 2026 so this ranking event would be the first test event to check the club logistics are in order. The organisers had put in a huge amount of effort getting ready. Posted on 8 Jul
British Classic Week Day 2
An early start for Classes 1-3 as they prepared to race around the Isle of Wight It was an early start for the British Classic Week fleet on day two, as Classes 1-3 prepared to race around the Isle of Wight. Posted on 8 Jul
iQFOiL Worlds a Aarhus day 3
The leaderboard tightens at the halfway mark after today's racing in a building breeze After a frustrating day of waiting ashore on Monday, Day 3 brought back the action in Aarhus Bay with spectacular foiling conditions and a full day of intense racing. Posted on 8 Jul
Solo Vintage Championship preview
Leigh-on-Sea has the biggest fleet in the world Leigh on Sea Sailing Club is home to the largest fleet of Vintage Solos in the World and on Sat 12th July will host the seventh running of the Vintage Championship. Posted on 8 Jul
Fleet advances to the last half of the AEGEAN 600
In contrast to yesterday's slow pace, the rate of progress has been much improved Most of the fleet of 59 Monohulls and Multihulls who are sailing in this year's AEGEAN 600 have either already entered the second half of the race at the island of Rhodes or are well on their way to reaching this important milestone. Posted on 8 Jul
Blaze Westerns at Porthpean
The second day's breakfast included painkillers Plan a weekend trip to Cornwall and you're either going back to work on Monday looking as though you've been basking on a sunbed on a Caribbean Island or feeling broken as you hit the traffic gridlock because it poured with rain! Posted on 8 Jul