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Trump to Double Tariffs on Foreign Steel to 50%
June 01, 2025
|The Sunday Guardian
US President Donald Trump on Friday told Pennsylvania steelworkers he's doubling the tariff on steel imports to 50 percent to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods.
In a post later on his Truth Social platform, he added that aluminum tariffs would also be doubled to 50 percent, and both tariff hikes would go into effect Wednesday.
Trump spoke at US Steel's Mon Valley Works-Irvin plant in suburban Pittsburgh, where he also discussed a details-to-come deal under which Japan's Nippon Steel will invest in the iconic American steelmaker.
Though Trump initially vowed to block the Japanese steelmaker's bid to buy Pittsburgh-based US Steel, he reversed course and announced an agreement last week for what he described as "partial ownership" by Nippon.
It's unclear, though, if the deal his administration helped broker has been finalized or how ownership would be structured.
هذه القصة من طبعة June 01, 2025 من The Sunday Guardian.
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المزيد من القصص من The Sunday Guardian
The Sunday Guardian
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