The price hike is hitting U.S. manufacturers and contractors that rely on steel components.

LONDON (Reuters) -U.S. President Donald Trump plans to double tariffs on steel and aluminium imports to 50% from Wednesday, stepping up pressure on global steel producers and deepening his trade war.

Nippon Steel and United States Steel are on pace to finalize their $14.1 billion combination with President Donald Trump’s administration ahead of a deal deadline later this month.

Cans used for food require tin-coated, ultrathin sheet steel made from molten iron. Not much is produced in the U.S., where domestic producers have been scaling back production for years ...

Looking ahead to 2025, protectionist policies will likely continue to be tailwinds for U.S. steel producers. We saw an example of that in early June when tariffs on steel and aluminum were doubled.

U.S. President Donald Trump plans to double tariffs on steel and aluminium imports to 50% from Wednesday, stepping up pressure on global steel producers and deepening his trade war.