Trump raises tariffs on steel and aluminum to 50%, up from previous 25%

The ongoing trade confrontation between the United States and other nations continues to escalate. Donald Trump signed an executive order raising the tariffs, marking a significant escalation in the trade dispute.

German media are sounding the alarm — this move delivers a severe blow to the steel industry, which was already struggling amidst soaring energy prices.

Germany's largest steel conglomerate is preparing for a major restructuring, with anticipated reductions exceeding 10,000 jobs.