The United States will impose a 50% tariff on imported steel, doubling current tariffs. This was announced by President Donald Trump, while speaking at the main US Steel plant in Pittsburgh. According to the head of the White House, the move would help boost the local steel industry and national supply, while reducing dependence on China.
"It is a great honor for me to increase tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are recovering like never before. This will be another great news for our wonderful steel and aluminum workers. We will make America great again!" Donald Trump later wrote in Truth after the announcement on US Steel, adding aluminum to steel among the materials affected by the doubling of duties, writes A2 CNN.
Trump also said $14 billion would be invested in steel production in the area through a partnership between U.S. Steel and Japan's Nippon Steel, although he later told reporters that he had not yet seen or approved the final deal.
The announcement is the latest twist in Trump's drastic approach to tariffs since returning to office in January.
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