President Donald Trump announced Friday evening during a visit to Pittsburgh, Pennsylvania, that he is doubling the current 25% steel tariffs to 50%.
“We are going to be imposing a 25% increase,” Trump said. “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.”
The announcement was made one day after a dramatic legal showdown, when an appeals court reinstated Trump’s sweeping “Liberation Day” tariffs after two separate courts struck them down.
The surprise announcement came as Trump appeared in Pittsburgh to celebrate a deal between US Steel and the Japanese company Nippon Steel.
“We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” said Trump. “We’re going to have a great partner. And I have to tell you, Japan has been a tremendous friend of mine during my years as president, and then we had a little hiatus.”
The partnership is expected to create 70,000 jobs and add $14 billion to the American economy. Although Trump also claimed on Friday that “as part of this monumental commitment, Nippon will also invest $2.2 billion to increase steel production here in the Mon Valley.”
“You’re going to see that it will keep its headquarters in the great city of Pittsburgh, Pennsylvania, where it belongs,” said Trump.
TRUMP TO VISIT US STEEL AMID QUESTIONS OVER HIS TARIFFS, ECONOMIC APPROACH
Trump initially opposed the deal, as did former President Joe Biden, and promised to block the Japanese steelmaker from purchasing U.S. Steel. Under this deal, Nippon Steel will invest in the company but won’t outright own it.
“My understanding is that many residents of southwestern Pennsylvania are supportive of the deal and the unions strongly supported it, so I think it is likely to be viewed more favorably than unfavorably in that part of the state,” said Berwood Yost, the director of Franklin & Marshall College’s Center for Opinion Research.
