President Donald Trump says the increase in tariffs will protect America’s steel industry, along with an expected partnership with Japan.
US to impose 50% tariffs on steel imports, Trump says
US President Donald Trump has announced the US will double its current tariff rate on steel imports from 25% to 50%.
Speaking at a rally in Pittsburgh, Pennsylvania, Trump said the move would help boost the local steel industry and the national output, while decreasing reliance on China.
Trump also said that $14bn would be invested into the area’s steel production through a partnership between US Steel and Japan’s Nippon Steel. Details on the partnership are still unclear, though Trump has been touting the deal he’d made.
The announcement is the latest turn in Trump’s rollercoaster approach to tariffs since re-entering office in January.
