Trump Doubles Metal Tariffs: What Does It Mean for Danish Exporters?

On Wednesday morning at 06:01, Donald Trump’s announced doubling of import tariffs on steel and aluminum came into effect.

This means that companies exporting metal goods to the USA now have to pay 50 percent tariffs instead of the previous 25 percent.

The tariff increase was announced last week during a visit to steel producer U.S. Steel in Pennsylvania, where Trump addressed an audience that has historically been significant for his campaigns: the steelworkers.

– We will increase tariffs on steel from 25 percent to 50 percent, which will further secure the steel industry, Trump said during the speech.

A Signal with Global Reach

Although the message was directed at American workers, the announcement has created ripples far beyond the USA’s borders.

Mexico’s Minister of Economy Marcelo Ebrard has already requested an exemption, citing that the USA exports more steel to Mexico than the other way around. The United Kingdom has negotiated a temporary tariff pause of 90 days, lasting until July 9.

Whether Trump will negotiate further with the affected countries remains uncertain – one thing, however, is clear – companies that sell steel-containing products to the USA are holding their breath these days, and turmoil is expected in stock markets worldwide.

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