Latest news with #SteelIndustry
Yahoo
3 days ago
- Business
- Yahoo
Trump Says Steel, Aluminum Tariffs Will Double to 50%
The president said U.S. Steel, which was in a deal to be taken over by Tokyo-based Nippon Steel, would remain U.S.-controlled.
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Plan For Higher Metal Tariffs Includes Aluminum
President Trump on Friday said that duties on imported aluminum will rise to 50% from the current level of 25%, in line with a planned increase in a levy on steel imports. 'It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th,' Trump posted on Truth Social. 'Our steel and aluminum industries are coming back like never before.'
NHK
3 days ago
- Business
- NHK
Trump: US Steel to remain 'American company'
US President Donald Trump says the company US Steel, which had been the target of a takeover bid by Japan's Nippon Steel, will remain in America. At a rally in the state of Pennsylvania on Friday, Trump said: "We're here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company. You're going to stay in American company." He added that Nippon Steel will invest 14 billion dollars in US Steel, describing it as the largest investment in the history of Pennsylvania and in the history of the steel industry. He also announced plans to raise tariffs on imported steel to 50 percent from 25 percent.
Yahoo
26-05-2025
- Business
- Yahoo
ArcelorMittal shares surge as Trump backs Nippon Steel partnership
-- ArcelorMittal SA (AS:MT) shares rose about 4% on Monday, following the announcement by U.S. President Donald Trump of a partnership that would allow Japan's Nippon Steel Corp (TYO:5401) to take control of United States Steel Corporation (NYSE:X). The surge in ArcelorMittal's shares was also boosted by the belief that the deal could spur further consolidation in the sector. The trading volume for the day was 16% above the 20-day average for the same time. In his announcement on Friday, Trump did not explicitly endorse the proposed $14.1 billion cash takeover of US Steel by Nippon Steel. He did, however, assert that the company would "remain in America." Related articles ArcelorMittal shares surge as Trump backs Nippon Steel partnership China auto stocks take a hit as BYD, Geely offer fresh incentives Is this a turning point for markets? Sign in to access your portfolio
Reuters
26-05-2025
- Business
- Reuters
India's top court orders status quo on liquidation proceedings of Bhushan Power
NEW DELHI, May 26 (Reuters) - India's top court on Monday ordered a status quo on the liquidation proceedings of Bhushan Power and Steel, weeks after it rejected JSW Steel's ( opens new tab resolution plan to acquire the firm.
