Latest news with #U.S.SteelCorporation
Express Tribune
3 days ago
- Business
- Express Tribune
Trump to double US steel, aluminum tariffs to 50%
U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. PHOTO: REUTERS Listen to article US President Donald Trump said he planned to increase tariffs on imported steel and aluminum to 50% from 25%, ratcheting up pressure on global steel producers and deepening his trade war. "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," he said at a rally in Pennsylvania. Trump announced the higher tariffs just outside Pittsburgh, where he was talking up an agreement between Nippon Steel and US Steel . He said the $14.9 billion deal, like the tariff increase, will help keep jobs for steel workers in the US. The US president later posted on social media that the increased tariff would also apply to aluminum products and that it would take effect on Wednesday. Shares of steelmaker Cleveland-Cliffs Inc surged 26% after the market close as investors bet the new levies will help its profits. The doubling of steel and aluminum levies intensifies Trump's global trade war and came just hours after he accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals. Canada's Chamber of Commerce quickly denounced the tariff hike as "antithetical to North American economic security." TRUMP PROTECTS AMERICAN STEEL 🇺🇸 "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." –President Donald J. Trump 🇺🇸 — The White House (@WhiteHouse) May 30, 2025 "Unwinding the efficient, competitive and reliable cross-border supply chains like we have in steel and aluminum comes at a great cost to both countries," Candace Laing, president of the chamber, said in a statement. Trump spoke at US Steel's Mon Valley Works, a steel plant that symbolizes both the one-time strength and the decline of US manufacturing power as the Rust Belt's steel plants and factories lost business to international rivals. Closely contested Pennsylvania is also a major prize in presidential elections. The U.S. is the world's largest steel importer, excluding the European Union, with a total of 26.2 million tons of imported steel in 2024, according to the Department of Commerce. As a result, the new tariffs will likely increase steel prices across the board, hitting industry and consumers alike. Steel and aluminum tariffs were among the earliest put into effect by Trump when he returned to office in January. The tariffs of 25% on most steel and aluminum imported to the US went into effect in March, and he had briefly threatened a 50% levy on Canadian steel but ultimately backed off. Under the so-called Section 232 national security authority, the import taxes include both raw metals and derivative products as diverse as stainless steel sinks, gas ranges, air conditioner evaporator coils, horseshoes, aluminum frying pans and steel door hinges. The 2024 import value for the 289 product categories came to $147.3 billion with nearly two-thirds aluminum and one-third steel, according to Census Bureau data retrieved through the US International Trade Commission's Data Web system. By contrast, Trump's first two rounds of punitive tariffs on Chinese industrial goods in 2018 during his first term totaled $50 billion in annual import value.
Yomiuri Shimbun
3 days ago
- Business
- Yomiuri Shimbun
Trump Says He Plans to Double Steel, Aluminum Tariffs to 50%
Reuters U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. WEST MIFFLIN, Pennsylvania, May 30 (Reuters) – U.S. President Donald Trump said on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25%, ratcheting up pressure on global steel producers and deepening his trade war. '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,' he said at a rally in Pennsylvania. Trump announced the higher tariffs just outside Pittsburgh, where he was talking up an agreement between Nippon Steel 5401.T and U.S. Steel X.N. Trump said the $14.9 billion deal, like the tariff increase, will help keep jobs for steel workers in the U.S. He later posted on social media that the increased tariff would also apply to aluminum products and that it would take effect on Wednesday. Shares of steelmaker Cleveland-Cliffs Inc CLF.N surged 26% after the market close as investors bet the new levies will help its profits. The doubling of steel and aluminum levies intensifies Trump's global trade war and came just hours after he accused China of violating an agreement with the U.S. to mutually roll back tariffs and trade restrictions for critical minerals. Canada's Chamber of Commerce quickly denounced the tariff hike as 'antithetical to North American economic security.' 'Unwinding the efficient, competitive and reliable cross-border supply chains like we have in steel and aluminum comes at a great cost to both countries,' Candace Laing, president of the chamber, said in a statement. Australia's center-left government also condemned the tariff increase as 'unjustified and not the act of a friend.' 'They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade,' Trade Minister Don Farrell said in a statement. Australia, a key U.S. security ally in the Indo-Pacific, would 'continue to engage and advocate strongly for the removal of the tariffs,' Farrell said. Trump spoke at U.S. Steel's Mon Valley Works, a steel plant that symbolizes both the one-time strength and the decline of U.S. manufacturing power as the Rust Belt's steel plants and factories lost business to international rivals. Closely contested Pennsylvania is also a major prize in presidential elections. The U.S. is the world's largest steel importer, excluding the European Union, with a total of 26.2 million tons of imported steel in 2024, according to the Department of Commerce. As a result, the new tariffs will likely increase steel prices across the board, hitting industry and consumers alike. Steel and aluminum tariffs were among the earliest put into effect by Trump when he returned to office in January. The tariffs of 25% on most steel and aluminum imported to the U.S. went into effect in March, and he had briefly threatened a 50% levy on Canadian steel but ultimately backed off. Under the so-called Section 232 national security authority, the import taxes include both raw metals and derivative products as diverse as stainless steel sinks, gas ranges, air conditioner evaporator coils, horseshoes, aluminum frying pans and steel door hinges. The 2024 import value for the 289 product categories came to $147.3 billion with nearly two-thirds aluminum and one-third steel, according to Census Bureau data retrieved through the U.S. International Trade Commission's Data Web system. By contrast, Trump's first two rounds of punitive tariffs on Chinese industrial goods in 2018 during his first term totaled $50 billion in annual import value.
Yahoo
23-05-2025
- Automotive
- Yahoo
U. S. Steel and the University of Michigan Solar Car Team Drive Sustainable Transportation
PITTSBURGH, May 23, 2025--(BUSINESS WIRE)--U. S. Steel Corporation (NYSE: X) ("U. S. Steel") announced today a dynamic new partnership as a sponsor of the University of Michigan's 2025 Solar Car Team, North America's most successful solar racing team. The first-time collaboration brings together two innovative leaders driving the future of mobility and sustainability. From August 24 – 31, the team's student-built solar car will compete in the 2025 Bridgestone World Solar Challenge, a nearly 1,865 mile (3,000-kilometer), solar-powered race across Australia's Outback. More than a race, the event is a global design showcase, pushing the limits of engineering, efficiency, and renewable energy. Organizers describe it as a platform that provides parameters, not prescriptions, leaving ingenuity to light the way. U. S. Steel's sponsorship reflects a broader mission: to connect with top engineering talent and show how steel plays a significant role in the clean energy transition — not just as a structural material, but as a platform for innovation. In electric vehicles, solar installations and more, U. S. Steel uses steel to help meet its customers' sustainability goals. "Just as the sun fuels the Solar Car Team's cutting-edge vehicle, it also symbolizes the energy behind our partnership to drive for a better future for our planet," said Christian Gianni, Senior Vice President of Sustainability and Chief Technology Officer at U. S. Steel. The University of Michigan Solar Car Team partnership also underscores U. S. Steel's commitment to solving complex performance and sustainability challenges through advanced material science – pairing decades of metallurgical expertise with the energy of fresh ideas. About U. S. Steel Founded in 1901, U. S. Steel delivers profitable and sustainable steel solutions. Propelled by its talented employees and an unwavering focus on safety, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products. Steel production begins with our competitively advantaged iron ore production capabilities which fuel our integrated steelmaking facilities and investments in electric arc furnaces. To help our customers create the best products with the fewest emissions, we are committed to reaching net-zero greenhouse gas emissions by 2050. U. S. Steel is at the forefront of creating steels that are stronger, lighter, and better for the environment. This includes our proprietary XG3® advanced high-strength steel, verdeX® steel produced with 70-80% lower CO2 emissions with a recycled content of up to 90%, and ultra-thin lightweight InduX™ steel for electric vehicles, generators, and transformers. U. S. Steel maintains operations across the United States and in Central Europe and is headquartered in Pittsburgh, Pennsylvania. For more information, please visit and follow U. S. Steel on LinkedIn, Instagram, Facebook, and X. View source version on Contacts Corporate CommunicationsT – (412) 433-1300E – media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
23-05-2025
- Automotive
- Business Wire
U. S. Steel and the University of Michigan Solar Car Team Drive Sustainable Transportation
PITTSBURGH--(BUSINESS WIRE)--U. S. Steel Corporation (NYSE: X) ('U. S. Steel') announced today a dynamic new partnership as a sponsor of the University of Michigan's 2025 Solar Car Team, North America's most successful solar racing team. The first-time collaboration brings together two innovative leaders driving the future of mobility and sustainability. From August 24 – 31, the team's student-built solar car will compete in the 2025 Bridgestone World Solar Challenge, a nearly 1,865 mile (3,000-kilometer), solar-powered race across Australia's Outback. More than a race, the event is a global design showcase, pushing the limits of engineering, efficiency, and renewable energy. Organizers describe it as a platform that provides parameters, not prescriptions, leaving ingenuity to light the way. U. S. Steel's sponsorship reflects a broader mission: to connect with top engineering talent and show how steel plays a significant role in the clean energy transition — not just as a structural material, but as a platform for innovation. In electric vehicles, solar installations and more, U. S. Steel uses steel to help meet its customers' sustainability goals. 'Just as the sun fuels the Solar Car Team's cutting-edge vehicle, it also symbolizes the energy behind our partnership to drive for a better future for our planet,' said Christian Gianni, Senior Vice President of Sustainability and Chief Technology Officer at U. S. Steel. The University of Michigan Solar Car Team partnership also underscores U. S. Steel's commitment to solving complex performance and sustainability challenges through advanced material science – pairing decades of metallurgical expertise with the energy of fresh ideas. About U. S. Steel Founded in 1901, U. S. Steel delivers profitable and sustainable steel solutions. Propelled by its talented employees and an unwavering focus on safety, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products. Steel production begins with our competitively advantaged iron ore production capabilities which fuel our integrated steelmaking facilities and investments in electric arc furnaces. To help our customers create the best products with the fewest emissions, we are committed to reaching net-zero greenhouse gas emissions by 2050. U. S. Steel is at the forefront of creating steels that are stronger, lighter, and better for the environment. This includes our proprietary XG3® advanced high-strength steel, verdeX® steel produced with 70-80% lower CO2 emissions with a recycled content of up to 90%, and ultra-thin lightweight InduX™ steel for electric vehicles, generators, and transformers. U. S. Steel maintains operations across the United States and in Central Europe and is headquartered in Pittsburgh, Pennsylvania. For more information, please visit and follow U. S. Steel on LinkedIn, Instagram, Facebook, and X.
