Trump says US to double tariffs on steel imports to 50%
WASHINGTON (Kyodo) -- U.S. President Donald Trump said Friday he will raise tariffs on steel imports to 50 percent from the 25 percent that his administration imposed earlier this year.
Trump made the announcement during a speech at a United States Steel Corp. plant in Pennsylvania. Trump praised Nippon Steel Corp. for planning to invest $14 billion in the struggling iconic U.S. producer.
Calling Nippon Steel a "great partner" for U.S. Steel, Trump said Japan is an "amazing country" and that the two steelmakers will form a "tremendous relationship."
Trump's visit to the plant for a rally with steelworkers and his remarks came after he unexpectedly indicated a week ago on social media that the Japanese firm's blocked acquisition deal for the U.S. company had been cleared, referring to it as a "partnership."
Nippon Steel and U.S. Steel announced their merger plan in December 2023. However, then President Joe Biden in early January this year issued an order blocking the sale of U.S. Steel to the Japanese firm, citing national security grounds, following a recommendation by a panel of federal agencies.
Last month, Trump, who also opposed the sale during the 2024 presidential race, ordered the Committee on Foreign Investment in the United States to conduct another review of Nippon Steel's proposed acquisition.
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