Business Trump Vows to Raise Steel and Aluminum Tariffs to 50% Starting Wednesday: What It Means for the U.S. Economy by Olawunmi Sola-Otegbade June 4, 2025 by Olawunmi Sola-Otegbade June 4, 2025 President Donald Trump has pledged to double tariffs on steel and aluminum imports, vowing to raise the rates to 50% starting Wednesday if re-elected — a move that could have …