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Euronews
Euronews
Indrabati Lahiri

European steel stocks rebound as Trump doubles steel tariffs to 50%

US tariffs on steel and aluminium imports were doubled from 25% to 50% on Wednesday, a move announced by US president Donald Trump last Friday. However, the UK has temporarily been spared from this hike.

The tariff increase has escalated trade tensions and drawn significant criticism from worldwide trade partners. Trump, meanwhile, claims the move will make the US steel industry even stronger. 

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