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US President Donald Trump has threatened to double tariffs on imported steel and aluminum to 50% to "protect national production," intensifying pressure on the steel sector internationally and deepening the global trade war he has declared.
"We will be imposing a 25% increase. We will be raising tariffs on steel (imported) into the United States from 25% to 50%, which will further ensure the safety of the steel industry in the United States," Trump explained, addressing US Steel workers at a plant in Pennsylvania, who celebrated the president's announcement by rhythmically chanting "USA, USA."
The White House said the measure would be officially announced "next week."
"Nobody will be able to bypass" these customs duties, Donald Trump assured from the podium, with workers in the audience wearing helmets and reflective vests.
The tariffs take effect from Wednesday, June 4.
Moreover, the Republican defended the deal to merge – essentially, buy – U.S. Steel and its Japanese competitor Nippon Steel, which he personally approved last week and about which few details have been made public.
"The most important thing is that US Steel will continue to be controlled by the US, otherwise I would not have made this deal," said Donald Trump, according to whom Nippon Steel will invest $14 billion "in the future" of the US steel industry.
In late 2023, the two industrial groups had announced a plan for Nippon Steel to buy U.S. Steel for $14.9 billion. But former Democratic President Joe Biden blocked it weeks before he left the White House in January, citing security concerns. Donald Trump decided to reconsider and ultimately approved it with conditions.
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