Trump Stuns World, Doubles Steel Tariffs to 50% in ‘Major Announcement’
In a move that sent immediate ripples across global markets and diplomatic circles, former President Donald Trump, in a ‘major announcement’ reported by CTV National News on May 30, 2025, declared a dramatic increase in steel tariffs, doubling them to a staggering 50%.
The announcement, highlighted during the CTV National News at 11 broadcast, marks a significant escalation in trade protectionism, reminiscent of and exceeding policies enacted during Trump’s previous term in office. While details surrounding the specific countries targeted were initially emerging, the broad nature of the ‘doubling’ suggests a wide-ranging impact on major steel exporting nations.
Industry Reaction and Economic Fallout
The immediate reaction from the steel industry within the United States was mixed, with some domestic producers potentially welcoming the increased protection, while manufacturers relying on imported steel expressed deep concerns about rising costs and potential supply chain disruptions. Economists quickly began analyzing the potential fallout, warning of retaliatory tariffs from trading partners, increased consumer prices for goods containing steel, and a potential slowdown in sectors dependent on construction and manufacturing.
International reaction was swift and largely critical. Major trading blocs and individual nations affected by the previous tariffs, and now facing a doubling, are expected to explore countermeasures. Analysts on CTV National News speculated that countries like Canada, Mexico, and those in the European Union would be particularly impacted and likely to respond, potentially triggering a new phase of trade disputes.
Political Context and Future Implications
The timing and nature of the announcement are being closely scrutinized. Coming from a figure who has publicly contemplated a return to the presidency, the declaration is seen by many as a potential preview of future trade policy should he re-enter the White House. His proponents argue such tariffs are necessary to protect American jobs and industries from unfair foreign competition, while critics contend they harm the overall economy, strain international relations, and ultimately hurt consumers.
The coming days and weeks will be crucial as governments and businesses around the world assess the full scope of this tariff hike and formulate their responses. The 50% steel tariff rate is among the highest seen in recent history for a major economy, underscoring the potential for significant disruption to global trade flows and established economic partnerships. CTV National News continues to follow this developing story, monitoring reactions from Washington, international capitals, and impacted industries.
