Trump Lowkey Bout to Crank Up Steel Tariffs to 50% 🔩🔥
Trump says he will double tariffs on steel and aluminum imports to 50 per cent. Trump just said he's doubling the tariffs on steel and aluminum, straight up to 50%. Said it's gonna save the U.S. steel biz. Canada's sweating 'cause they're our biggest steel plug. Prices already up 16% since last time
TL:DR
Trump just said he's doubling the tariffs on steel and aluminum, straight up to 50%. Said it's gonna save the U.S. steel biz. Canada's sweating 'cause they're our biggest steel plug. Prices already up 16% since last time he did this. Some economists are side-eyeing the whole thing, saying it could be a major L for everyone. He announced the whole thing at a rally celebrating a Nippon Steel deal, too.
The Deets
Aight, so listen up. Trump was at a U.S. Steel plant in Pittsburgh, and he straight up announced he's about to double the tariffs on steel and aluminum imports to 50%. This is after he already slapped 25% tariffs on that stuff back in March.
He's saying it's gonna "secure the steel industry" here in the U.S., which, okay, boomer. But Canada, our main supplier, is probably spiraling rn. Since those earlier tariffs, steel prices have already jumped like 16%, so get ready for even more inflation. 😬
Economists are kinda sus about the whole thing, saying that the last time tariffs were this high, it cost American companies and consumers big time. Like, the Tax Foundation is saying we lost around 75,000 manufacturing jobs. Sheesh!
The Canadian steel industry is throwing major shade, saying this is gonna cause chaos. On the flip side, Trump was flexing a deal between Nippon Steel and U.S. Steel, saying U.S. Steel is staying American. Nippon Steel dropped a statement being all chill about the "partnership," but the details are still kinda vague.
Basically, Trump's going full send on protecting American steel, but it could end up being a whole mess for the economy. We'll see what happens next week when these tariffs are supposed to drop. Stay woke, fam.
Abbreviations Glossary
| Abbreviation | Full Form |
|---|---|
| Lowkey | Slightly, subtly. |
| Bout to | About to. |
| Plug | Supplier. |
| Side-eyeing | Expressing disapproval. |
| Major L | Big loss. |
| Aight | Alright. |
| Straight up | Directly, honestly. |
| Okay, boomer | Dismissive reply. |
| Spiraling | Becoming overwhelmed with anxiety. |
| Rn | Right now. |
| Sus | Suspicious. |
| Sheesh | Expression of disbelief or annoyance. |
| Throwing shade | Expressing disapproval or contempt. |
| Flexing | Showing off. |
| Full send | Going all out. |
| Stay woke | Stay informed and aware. |
| Fam | Friend or acquaintance. |