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Trump Announces Plan to Double Steel and Aluminum Tariffs, Prompting Global Backlash

Former President Donald Trump has announced plans to double tariffs on steel and aluminum imports, raising existing charges from 25% to 50%. The decision, revealed during a campaign rally at U.S. Steel’s Mon Valley Works in Pennsylvania, has already drawn criticism from economists, international leaders, and labor unions.

“We’re going to bring it from 25% to 50%… to further secure the steel industry in the United States,” Trump told a crowd of steelworkers, promising the move would revitalize domestic production. The announcement coincides with a high-profile merger between U.S. Steel and Japan’s Nippon Steel, which Trump assured would result in no layoffs and U.S. control of the company.

The tariffs are scheduled to take effect on June 4, though previous tariff announcements have been delayed or adjusted during negotiations. Trump emphasized the need for economic protectionism in social media posts following the rally, saying the measures would be “a big jolt of great news” for American steel and aluminum workers.

However, critics argue the policy lacks a clear economic rationale. “They’ve never justified why 25% was right, let alone 50%,” said Wayne Winegarden, a senior fellow at the Pacific Research Institute. Others warned of the knock-on effects for sectors that rely on metal imports, such as automotive and construction.

Felix Tintelnot, an economics professor at Duke University, noted the uncertainty surrounding tariff policy makes it difficult for companies to invest in long-term industrial expansion. “Regardless of whether you support the tariffs, business leaders need consistency,” he said.

The reaction from U.S. allies has been swift and negative. Canada, the top exporter of steel to the U.S., condemned the plan. “This isn’t trade policy—it’s a direct attack on Canadian industries and workers,” said Marty Warren of United Steelworkers Canada. Bea Bruske of the Canadian Labour Congress warned it could “shut Canadian steel and aluminum out of the U.S. market entirely.”

Prime Minister Mark Carney pledged to accelerate infrastructure investments to offset the economic impact, while leaders from the European Union and Australia threatened retaliation. The E.U. said it was “prepared to impose countermeasures” as early as July if no agreement is reached. Germany’s Bernd Lange added, “If these tariffs become reality, our countermeasures will follow.”

U.K. trade officials are expected to meet with their U.S. counterparts next week to seek exemptions, amid fears that the move could unravel recent trade agreements.

As the U.S. navigates a complex global economy, Trump’s latest tariff push appears set to reignite a familiar international trade battle—with broad implications for global markets and domestic industries alike.

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Business

Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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