Trump Doubles Steel Tariffs to 50 Percent Amid Global Backlash

President Donald Trump's decision to double steel tariffs from 25% to 50% aims to strengthen U.S. domestic steel production but has sparked widespread criticism for its economic consequences. Australian Prime Minister Anthony Albanese described the move as "economic self-harm" that will increase costs for American consumers, highlighting concerns about rising grocery and manufacturing prices. The tariffs have prompted international backlash, including potential retaliatory measures from the European Union, and have been legally challenged in U.S. courts for exceeding presidential authority under emergency powers. Trade Minister Don Farrell plans to engage with U.S. officials at the OECD meeting to advocate for dropping the tariffs, emphasizing the broader impact on global trade relations. While the Trump administration cites national security and economic protectionism, critics warn that the tariffs may escalate trade tensions and harm consumers more than benefiting the steel industry. The situation remains fluid as legal appeals and diplomatic negotiations continue.