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The president announces the tariff increase on Truth Social: ‘Great news for our workers.’ US Steel is also involved in an agreement with Japan’s Nippon
US President Donald Trump announced today an increase in tariffs on imported steel and aluminium, which will rise from 25% to 50% starting Wednesday, 4 June. The decision was communicated through a post on Truth Social, where the president called the measure ‘great news for our wonderful workers,’ emphasising the return to competitiveness of the American steel industry.
The move had been anticipated during a rally held at a US Steel plant near Pittsburgh, Pennsylvania. On that occasion, Trump said, ‘We will impose a 25% increase, we will raise tariffs on steel imported into the United States of America from 25% to 50%,’ receiving widespread approval from the audience.
The president explained that he had also considered a 40% tariff, but ultimately accepted the request of industry executives, who were pushing for a higher rate. ‘At 25%, they can still overcome that barrier. At 50%, no one can overcome it,’ he said.
In his speech, Trump also praised a new partnership between US Steel and Japan’s Nippon Steel, calling it ‘a sensational deal,’ while noting that the agreement has not yet been formally approved. ‘They still have to show me the final agreement,’ he told reporters after returning to Washington, adding that it would be the largest investment ever recorded in Pennsylvania’s history.
The crackdown on imports is set to further strengthen the president’s protectionist stance, which aims to boost domestic production in view of the upcoming economic and political challenges.
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