Donald Trump stood before a crowd of steelworkers in Pittsburgh, Pennsylvania, and dropped a bombshell: the US would more than double tariffs on imported steel and aluminum, from 25% to 50%. The move, set to take effect next Wednesday, is meant to boost the domestic steel industry, according to Trump.
The president spoke at a rally at a US Steel factory, touting his administration’s efforts to revive the industry. He claimed the new tariffs would help reduce the country’s reliance on Chinese steel and create jobs. Trump also announced a $14 billion investment in steel production through a partnership between US Steel and Japan’s Nippon Steel. However, he later told reporters he hadn’t seen or approved the deal.
This latest move comes amid uncertainty over Trump’s trade policies, which have seen several changes in recent months. The decision follows a court ruling that allowed the government to continue enforcing tariffs on imported goods from around the world.
The US steel industry has struggled in recent years, with China, India, and Japan becoming leading producers. About 25% of the steel used in the US is imported, mostly from Mexico and Canada. Trump has long been critical of these trade dynamics.
At the Pittsburgh rally, Trump praised his own efforts to help US Steel, which he said was thriving thanks to his 25% tariffs introduced in 2018. He vowed that the new 50% tariffs would ensure the company’s survival and lead to a resurgence in American steel production.
Trump told the crowd that the new tariffs would mean no layoffs, no outsourcing, and a $5,000 bonus for every US steelworker. “At 50%, imported steel and aluminum won’t be able to cross the border anymore,” he said. “We’re going to make Pennsylvania steel the backbone of America like never before.”
Source: BBC