2025-05-30T22: 34: 58z
- President Donald Trump said on Friday that he intends to increase steel tariffs from 25 % to 50 %.
- Trump said the increase will “secure the steel industry in the United States.”
- The president’s comprehensive strategy is still legal.
On Friday, President Donald Trump announced plans to increase customs duties on steel imports from 25 % to 50 %.
“We will impose a 25 % increase,” Trump said during a march at a American steel factory near Pittsburg. “We will bring it from 25 % to 50 %, and steel definitions to the United States of America, which will secure the most steel industry in the United States. No one will wander.”
Trump was visiting the factory to support an expected deal between the United States Steel Corp and Nippon Steel in Japan last week. Trump wrote on social media that the new partnership between steel companies “would create at least 70,000 jobs, and add 14 billion dollars to the American economy.”
Shortly before leaving his post, former President Joe Biden prevented partnership for national security reasons. Trump also initially opposed the sale of the American steel company to the Japanese entity in September.
“I think this group of people who have made this investment is now very happy, because this means that no one is able to steal your industry,” Trump added in a rally to support the deal.
In order to enhance the local steel industry, Trump had previously imposed a 25 % tariff on steel and aluminum imports, as well as a 10 % boundary tariff and a 10 % on all imports.
Business Insider experts told the tariffs on steel will slow all kinds of construction, worsen housing in America, and increase rent.
White House representatives did not immediately respond to the request from Business Insider.
