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Report: Trump leans toward 24% global tariff on steel imports

U.S. President Donald Trump favors a global tariff of 24% on steel imports, the harshest of the three actions recently recommended to him by the Department of Commerce, Bloomberg News reported.

Trump is also considering a 10% duty on all aluminum imports, up from the 7.7% proposed by the department, according to the report, which cited three sources familiar with the matter.

Commerce Secretary Wilbur Ross had said the proposed tariffs were aimed at increasing domestic production for each U.S. industry to about 80% of its capacity.

Trump has until April 11 to make a final decision on the tariff on steel imports and until April 19 with regard to aluminum.