Trump Doubles Steel Tariffs to 50%

US President Donald Trump announced that the country will double its tariffs on steel and aluminum imports from 25% to 50%, effective immediately, in a bid to boost the local steel industry and reduce reliance on China. Trump made the announcement at a rally in Pittsburgh, Pennsylvania, where he also claimed that a $14 billion investment would be made in the area's steel production through a partnership between US Steel and Japan's Nippon Steel. The move is the latest development in Trump's protectionist trade policies, which have sparked global economic tensions and strained relations with other countries, including China.

President Donald Trump announced that he is doubling tariffs on steel imported into the United States to 50%, up from 25%, citing the need to protect America's steelworkers. Trump made the announcement at a US Steel facility in Pennsylvania, stating that the higher tariff rate will take effect on June 4. The tariffs were initially imposed in March, and Trump claims they have saved the US steel industry. The new tariffs may raise prices on a key ingredient for American construction and manufacturing, potentially outweighing the benefits. Trump also celebrated the deal allowing Japan's Nippon Steel to buy a controlling stake in US Steel, which he had previously opposed, citing a "golden share" that gives the US a say in the company's operations.

US President Donald Trump plans to double tariffs on steel imports from 25% to 50% starting from next Wednesday, also affecting aluminium imports. Trump announced the decision at a rally in Pennsylvania, stating it will further secure the US steel industry. The UK is exempt due to a recent US-UK trade agreement. Trump's move deepens his trade war, which has impacted global markets, and follows his claim that China "totally violated" an agreement to roll back tariffs and trade restrictions.

President Trump announced that he would double tariffs on foreign steel and aluminum to 50%, claiming it would further protect the US industry. The move comes as Trump visited a US Steel factory in Pennsylvania, where he hailed a "planned partnership" between US Steel and Nippon Steel, a deal that was previously opposed by Trump. The details of the deal are unclear, but Trump assured employees that the company would "continue to be controlled by the US." Trump's tariff announcement is seen as a way to gain leverage over trading partners and protect American manufacturing, despite recent court rulings that some of his tariffs were unlawful.

US President Donald Trump plans to double steel tariffs to 50% and has expressed support for Nippon Steel's investment of over $20 billion in US Steel, claiming it will strengthen American steelmaking.

The US economy and trade have been experiencing significant developments, primarily driven by President Donald Trump's policies. Trump has announced plans to double steel tariffs to 50% and has backed Nippon Steel's investment in US Steel, worth over $20 billion. The US-China trade war continues, with Trump claiming China has "totally violated" their trade deal. US retail giants are pushing Chinese suppliers to shoulder up to 66% of tariff costs. The US SEC has dropped its lawsuit against cryptocurrency exchange Binance, marking a shift in regulatory stance under Trump's administration. A US court has blocked Trump's tariffs, but an appeal court has allowed them to stay in effect. Trump's administration has accused the court of "judicial overreach." The trade tensions have affected various industries, including US farmers, who have seen soybean exports to China flatline despite a tariff truce. Chinese smartphone exports to the US have also plunged to their lowest level since 2011 due to Trump's tariffs.