Trump Says He Plans To Double Steel, Aluminum Tariffs To 50%
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Taking a dig at China, Trump said America's future should be constructed with 'the strength and the pride of Pittsburgh,' rather than relying on 'shoddy steel from Shanghai.'
US President Donald Trump announced plans to double tariffs on foreign steel imports from 25 per cent to 50 per cent, effective June 4. The doubling of steel levies further intensifies Trump's global trade war and came just hours after he accused China of breaking a deal to mutually ease tariffs and trade restrictions on critical minerals.
While addressing US Steel's Mon Valley Works–Irvin Plant in Pennsylvania, Trump said the hike would further protect domestic steel producers and strengthen American manufacturing.
'We are going to be imposing a 25% increase. 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," Trump was quoted as saying by news agency Reuters.
Taking a dig at China, Trump said America's future should be constructed with 'the strength and the pride of Pittsburgh," rather than relying on 'shoddy steel from Shanghai."
advetisement
The proposed tariff increase to 50% on foreign steel imports could lead to higher costs for industries that heavily rely on steel, such as housing, automotive, and construction sectors.
This comes amid Trump's ongoing calls for stronger trade protections. Since he first imposed tariffs on steel in 2018, prices for steel products have risen nearly 16 per cent, according to government data.
Upon returning to the office in January, Donald Trump swiftly implemented tariffs on steel and aluminium imports, marking one of his first major trade actions. By March, a 25% tariff on most imported steel and aluminium had taken effect. Although Trump had initially threatened to impose a 50% levy on Canadian steel, he ultimately decided not to pursue it.
Donald Trump announced that US Steel will retain its American identity under a proposed investment deal with Japan-based Nippon Steel. While the arrangement has been touted as a significant development, few concrete details have been made public.
'We're here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company," Trump declared during an event at a US Steel warehouse near Pittsburgh. 'You're going to stay an American company, you know that, right?"
Despite the significant attention surrounding the deal, US Steel hasn't provided its investors with any new updates. Similarly, Nippon Steel has expressed support for the proposed partnership but hasn't disclosed the specific details.
State and federal lawmakers who have been briefed on the deal informed that Nippon would acquire US Steel and invest billions in its operations across Pennsylvania, Indiana, Alabama, Arkansas, and Minnesota.
The structure reportedly includes a leadership team and board dominated by Americans and a special US government veto authority known as a 'golden share."
The agreement's unclear details have sparked scepticism, with the United Steelworkers union expressing doubts over whether the alleged changes significantly differ from Nippon Steel's initial proposal, a deal valued at $14.9 billion that has faced opposition from politicians and labour groups.
'Nippon has maintained consistently that it would only invest in U.S. Steel's facilities if it owned the company outright," the union said in a statement. 'We've seen nothing in the reporting over the past few days suggesting that Nippon has walked back from this position."
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First Published:
May 31, 2025, 07:26 IST
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