The United States has escalated trade tensions by doubling tariffs on imported steel and aluminum to 50%, effective June 4. This move, part of President Donald Trump's strategy to bolster domestic metal industries, coincides with a deadline for global trading partners to submit their "best offers" to avoid broader tariffs set for early July.

The tariff increase has notably impacted Canada and Mexico, key suppliers of these metals to the U.S., while the United Kingdom remains exempt due to a preliminary trade agreement. European Union Trade Commissioner Maros Sefcovic expressed optimism about ongoing negotiations with U.S. Trade Representative Jamieson Greer, describing recent talks in Paris as "constructive." However, he criticized the tariff hike as counterproductive to progress.

European businesses have voiced concerns over the tariffs, urging the EU to take action to mitigate potential economic disruptions. The increased duties have already caused volatility in global metals markets, with aluminum premiums more than doubling this year.

As the deadline for broader tariffs approaches, the international community watches closely, hoping for resolutions that will stabilize trade relations and economic conditions.