Hey there! 👋 Have you heard the news about steel and aluminum in the US? Let me break it down for you!
What’s Happening?
The United States announced that starting from June 4, 2025, it will increase tariffs on steel and aluminum imports from 25% to 50%!
Wait, What’s a Tariff?
Great question! A tariff is like a tax that a country adds to goods coming from other countries. So, when the US buys steel and aluminum from other places, it will cost more because of this higher tariff.
Why Does This Matter?
Well, the US is one of the biggest buyers of steel from other countries. Plus, almost half (that’s 47%!) of the aluminum used in the US comes from abroad. With higher tariffs, it means:
- 🏗️ Building things like bridges and buildings might become more expensive.
- 🚗 Making cars could cost more money.
- 🏭 Factories that use these metals might have higher costs.
How Could This Affect You?
Even if you’re not buying steel or aluminum yourself, the things you use every day might become pricier. For example:
- Bikes 🛴 and skateboards 🛹 might cost more.
- Canned drinks 🥤 could see a price hike.
- Even your favorite gadgets 📱 might be affected!
What’s Next?
Companies might look for new ways to get the metals they need or find other materials to use. It’s a big change, and everyone will be watching to see how it all works out!
Stay Tuned!
Keep an eye on the news to see how this might impact things you’re interested in. Knowledge is power! 💪
Reference(s):
cgtn.com
