Trump Doubles Steel and Aluminum Tariffs to 50%, Elon Musk Criticizes Spending Bill

Trump Administration Tariffs

• ⚡ President Trump signed an executive order doubling tariffs on steel and aluminum imports from 25% to 50%.
• 🗓️ Trading partners were notified that previously paused tariffs are set to expire in early July, with the administration urging them to reach a deal.

Criticism of Spending Bill

• 💡 Elon Musk criticized a spending bill moving through Congress, calling it an "outrageous, pork-filled, and disgusting abomination."
• 🏛️ Despite Musk's and some Republican senators' objections, President Trump remains committed to the bill, referring to it as a "beautiful bill."
• 📉 The Congressional Budget Office estimates the bill could add trillions to the national debt, a claim the White House disputes with its own economic analyses.
• ✅ The bill passed the House by a single vote, and Trump aims for Senate passage by July 4th, though modifications are possible.