Trump doubles tariffs on steel coming into US from 25% to 50%
President Donald Trump has announced a notable increase in tariffs on steel imports, doubling the current rate from 25% to 50%. The announcement was made during a visit to pittsburgh, Pennsylvania, where Trump emphasized the intention to further secure the U.S. steel industry. This decision comes a day after a legal victory allowing his tariffs to be reinstated following previous court obstacles. The tariff increase is linked to a new partnership between U.S. Steel and Japan’s Nippon Steel, which is expected to create 70,000 jobs and contribute $14 billion to the U.S. economy.
Despite initial opposition to the deal from both Trump and former President joe Biden, the agreement allows Nippon Steel to invest $2.2 billion into U.S. Steel without directly owning it. Local sentiment toward the deal appears to be supportive, particularly from residents and unions in southwestern Pennsylvania.
Trump doubles tariffs on steel coming into US from 25% to 50%
President Donald Trump announced Friday evening that he is doubling the current 25% steel tariffs to 50% during a visit to Pittsburgh, Pennsylvania.
“We are going to be imposing a 25% increase,” Trump said. “We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States.”
The announcement was made one day after a dramatic legal showdown that saw an appeals court reinstate Trump’s sweeping “Liberation Day” tariffs after two separate courts struck them down.
TRUMP TO VISIT US STEEL AMID QUESTIONS OVER HIS TARIFFS, ECONOMIC APPROACH
The surprise announcement came as Trump appeared in Pittsburgh to celebrate a deal between U.S. Steel and the Japanese company Nippon Steel.
“We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” said Trump. “We’re going to have a great partner. And I have to tell you, Japan has been a tremendous friend of mine during my years as president, and then we had a little hiatus.”
The partnership is expected to create 70,000 jobs and add $14 billion to the American economy. Although Trump also claimed on Friday that “as part of this monumental commitment, Nippon will also invest $2.2 billion to increase steel production here in the Mon Valley.”
“You’re going to see that it will keep its headquarters in the great city of Pittsburgh, Pennsylvania, where it belongs,” said Trump.
Trump initially opposed the deal, as did former President Joe Biden, and promised to block the Japanese steelmaker from purchasing U.S. Steel. Under this deal, Nippon Steel will invest in the company but won’t outright own it.
“My understanding is that many residents of southwestern Pennsylvania are supportive of the deal and the unions strongly supported it, so I think it is likely to be viewed more favorably than unfavorably in that part of the state,” said Berwood Yost, the director of Franklin & Marshall College’s Center for Opinion Research.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Auto Amazon Links: Could not resolve the given unit type, . Please be sure to update the auto-insert definition if you have deleted the unit.